If an unearned difference in power exists between a person (or group) and another person (or group), whether that difference is economic, racial, based on gender, or otherwise, then by definition the more powerful person or group is privileged and the less powerful person or group is oppressed.
One particular source of power differential that can be very significant is relative intelligence (which is unquestionably unearned). People with higher intelligence are generally able to work within a system (whether capitalist, socialist, or otherwise) to their advantage much better than those with relatively less intelligence. They tend to occupy and dominate most of the positions of power in society (academia, media, government, business, non-profits, etc.), such that they have vastly disproportionate power over others in society relative to their numbers. In other words, they are exceedingly privileged.
But, I have never seen much progressive discussion about this particular privilege or how that privilege can be leveled. There are many solutions to address other privilege-oppression differentials in society (example: affirmative action for racial oppression). But what about intellectual oppression?