Hi N Vi,
I'm not quite certain I understand your question. It is true that at low expression levels, the variance tends to be higher — that is, low abundance transcripts are more difficulty to quantify accurately than highly-abundant transcripts.
If all genes have the same sampling rate (i.e. the same number of reads / kb), then this implies that they will have the same abundance in terms of units which measure sampling rate (like TPM, FPKM, etc.). Note, you refer here to genes; of course, having a uniform sampling rate at the gene level doesn't necessarily imply that all of the constituent transcripts will have the same rate — that depends on coverage etc. Of course, such an equal sampling rate doesn't seem to happen biologically, thus the nature of the transcript abundance estimation problem we face in reality.
Each equivalence class corresponds to, perhaps, many different coordinates. This is because fragments are placed in an equivalence class if they map to an identical set of transcripts. This can happen at multiple different coordinates among these transcripts. For example, imagine a gene with 3 transcripts t1, t2, t3 derived from a set of exons {e1, e2, e3, e4} such that t1 = {e1, e3, e4}, t2 = {e1, e3}, t3={e1, e2}. Any fragment mapping to exon 1 will go into an equivalence class labeled by transcripts t1, t2 and t3. Any fragment mapping to the e1-e3 boundary will go into an equivalence class labeled by t1 and t2, as will any fragment mapping entirely within e3. Any fragment mapping to the e1-e2 boundary or entirely within e2 will go into an equivalence class labeled by t3. There are some other cases as well. But here, you can see that both fragments crossing the e1-e3 boundary, and those mapping (anywhere) within e3 will go into the equivalence class labeled with t1 and t2. Thus, this equivalence class doesn't represent a single locus and may, in fact, represent many distinct loci.
Perhaps I've misinterpreted your question. If so, please let me know.
Best,
Rob