Well, now a good portion of their former watchers have gone rogue and started burning down villages while being clearly tainted by magic themselves, so who knows what they'll think between those two sides?
Probably that both are bastards. Templars will have to be burning more villages than mages for it to push the mages into the 'better' category.
I also wouldn't say that mages are the One Percent any more than I'd say that they're chattel slaves, because their situation isn't directly comparable to anyone IRL. The fact remains that mages are the underdog against a society that has far too much of its power structure invested in despising them, and that your and others' economic comparisons appear to be grounded in part in falsehood. I don't see why you can't just say that the people don't care about equal rights; their treatment of elves certainly drives that home well enough.
The biggest difference from the 1% is the political disenfranchisement. In terms of overall security and material advantage, mages are definitely at the top, in some respects even above the dangers of politics by virtue of being apolitical in the Circle system. Mages live in a restrictive but largely stable and high-functioning police state with significant liberties we wouldn't find in a real world police state. Most mundanes don't even get the 'stable and high-functioning' deal.
Mages aren't really an underdog. They're a big dog that's been leashed: powerful but constrained to the point of being beatable, rather than being naturally weak. Their subjugation was a matter of better organization by the weaker mundanes: had they been organized when the circles were being started, the mages wouldn't have been subjugated in the first place.
And... I do say that the people of Thedas don't care about equal rights. Quite frequently. I've even regularly pointed out that they have no ideological or philosophical basis for it being a common position. I've said it so many times I worry I'm becoming repetitive.
If mages want people to buy into the idea that mages deserve rights like everyone else, they're going to need to establish common cause and help other people have those rights first. As it is, the mages are interested in mage rights, and leaving everyone else without.
How have you not noticed this yet?