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Well, sure. Someone getting help from their parents are privileged compared to someone not getting help.

The term isn't normally used in this relative sense, though. The oxford dictionary says that privilege is 'a special right, advantage, or immunity granted or available only to a particular person or group'. Something the majority enjoys is not a privilege.

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I don't understand your comment. The term is always used in that relative sense, even in the examples that Oxford gives: Someone who is very rich is privileged compared to someone who is not.

Further, no part the definition you quoted restricts a privilege from being enjoyed by the majority.

It's not a majority of millenials, it's a majority of millenials with six-figure investments. Check the report.

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