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Ref: #53049 (comment)
The following does not raise:
index1 = pd.MultiIndex(levels=[['a', 'b']], codes=[[0, 1]])
index2 = pd.MultiIndex(levels=[['b', 'a']], codes=[[1, 0]])
tm.assert_index_equal(index1, index2)
In some sense, these indices are equal. However, levels
is sometimes used as an order in certain ops, and if this is not consistently set then inconsistencies can arise. See #53009 for an example.
It seems to me that because of this, we should not consider these indices equal.