Live equity is often more important than pure equity in zero sum games. This is why people adopt blatantly inferior strategies when faced with optimal strategies; the blatantly inferior strategy doesn't draw to the same outs as the optimal strategy.
Like in poker for instance. If your opponent's all-in range is AA,KK, AKs, AK, AQs Calling with QQ-77, AJo, ATo, Axs gives you less live equity than calling with low suited connectors and gappers, 9To, 89o, etc.