Correct or totally wrong?

My parents have always made the statement "you will never be our equal. You are our child so we will always be above you." They make this statement any time I or my siblings disagree with them (on an issue) or don't stand for them making snarky or judgemental comments about us. It's often paired with a claim that we are being disrespectful by disagreeing or sticking up for ourselves.

Mind you, none of us are children. I'm in my mid-30's with 3 children of my own, one of which is a teen. I do not view my children this way so it leaves me to wonder.

Is this the actual belief of others? Do other parents actually view their children as being beneath them?