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Although there are a few useful analyses in this text, i believe it is not relevant for building an egalitarian society.

In the first chapter, describing historical class struggle, Marx gives almost all credit for building "civilization" to the bourgeoisie, ignoring the role of working people in scientific advancement and construction. He also goes on to congratulate the ruling class on their colonial exploits, although recognizing capitalism necessitates it. Then he suggests that all oppression would be over once the proletariat frees itself.

The second chapter contains an overview of how communist should view different social classes and a guide to liberation for the proletariat. The strongest issue I have with this chapter is the characterization of the "lumpenproletariat" which includes sex workers, unemployed and other non-conformists. This category is represented as counterrevolutionary and even dangerous, which seems to me like a self-fulfilling prophecy and the opposite of solidarity. He also antagonizes the "petit bourgeoisie" which is a mistake my view.
In his guide to a fair society he argues for national liberation and centralization of production which we, in hindsight, know to be a bad idea.

The rest of the manifesto is in relation to other movements and institutions. Since i am not very familiar with those i won't review it.

Some of these critiques i can't blame on Marx, hindsight being 20/20, but some i can. He is clearly intolerant of certain groups and his ignorance of colonial destruction is very apparent and not excusable in my opinion. He also failed to recognize the revolutionary potential of the endangered petit bourgeoisie which gave capitalists a strong rhetorical advantage.