Inverting the power hierarchy means the least powerful identity is given the most prestige and respect in woke culture. But lack of power is demonstrated by oppression, which means victimization. So, in practice, greater victimization means you deserve more respect. In other words, you have higher status in the woke community.
This causes the woke to compete for status by proving their victimhood. And since victims are automatically seen as high status and virtuous, venerating victims also increases your own status. Hence woke culture is fundamentally a status culture based on victimhood.