I always interpreted it as knowledge of religion in general. You can be faithful to a god, but knowing what rites, edicts, ceremonies, rituals, holy texts, and even history of other religions is separate from that.
Like, if you are Catholic, does that mean you know all about other religions like Judaism or Islam?
Also the Netherlands is still very much capitalistic while having much more protections for their citizens.
This isn’t a blanket “capitalism bad”, it’s the fact we allowed our country to be bought out by capitalism.