Conservatives might be at the very top 1%, but the e.g. 70% to 99% top are all lefties ( number illustrative and plucked out of my ass, but what I would estimate).

So if you're from the bottom 5% and have the ability to move up the socioeconomic ladder to the e.g. top 75% group, but happen to be rightwing then it's extremely alienating, and like others have said these upper middle people are the gatekeepers of success.

My guess is lefties in the middle and upper middle look up and see rightoids at the top, but most rightoids are actually below them, in terms of socioeconomic status, wealth, life outcomes, etc. So what to the lefty bubble is "punching up" is actually mostly stamping down. At least that's what It feels like to me.