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Late Stage Capitalism
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Well I mean, what defines the meaning of "Redistribution of wealth doesn't work" in the context of this meme is explicitly the intent of an imagined propagandist. A defining feature of mainstream political discourse is to refuse the problem of wealth distribution as a topic of consideration at all, it's redirected to some narrower conception of the problem or made about values. I think what you are saying is not quite the same as a defense of the statement as delivered.
But anyway it's still wrong; even if bureaucratic mechanisms of wealth redistribution were unavoidably self defeating, it is not the case historically that wealth redistribution doesn't happen, it just tends to happen via traumatic collapse.