No all medical schools are not truly equal, but they are relatively close (when compared to other subjects) to being equal.
The difference between medical schools is much less than the difference between law schools, business schools. First of all, for your first job, your medical school doesn't matter which is huge. Second of all, the quality of medical schools is more or less guaranteed and there are fewer medical schools than law or business schools which results in a much less range in potential quality.
Going to a top Law or Business school can make a big difference compared to going to a poor one. It means huge differences in starting salary, different careers etc.
Going to a top medical school vs a poor one doesn't make any difference.
The tiny things you can tussle over are the way the school teaches the course, the location of the school, bragging rights (some medical schools are more difficult because they are attached to universities with more prestige or have a long history themselves) international reputation (if you want to practice abroad e.g. the US does take prestige into account) and research opportunities/miscellaneous opportunities (e.g. exchange).