The exhortation is "submit to one another out of reverence for Christ" (Ephesians 5:21), that is the universal exhortation to Christians. What follows are a series of examples of what that looks like, and it continues into chapter 6 where the Apostle speaks of parent-child and master-slave relationships. What the Apostle therefore does is take three examples of social relationships and turns the established order on their head. Wives submit to your husbands, sure; but husbands likewise to their wives. Children obey your parents, sure; but parents respect your children. Slaves submit to your masters, sure; but masters do likewise to your slaves.
The exhortation is submit to one another. And this means that there is no social hierarchy in the Church, there is no men in charge and women as underlings; it's men and women as equals, husbands and wives lovingly submitting to one another in love. Because it's not about "obeying" another, and it's not about expecting others to submit to you; it's about recognizing in oneself that we are called to be servants of Jesus Christ and in our call to be servants, servants to one another, helping, aiding, and sharing with one another in imitation of Jesus who is the Servant par excellence.
In fact the passage in Ephesians 5 doesn't make sense without this, here is how Ephesians 5:21-22 looks in the original Greek:
Verse 21 -
ὑποτασσόμενοι ἀλλήλοις ἐν φόβῳ Χριστοῦ
hypotassomenoi allelois en phobo Christou
"submitting yourselves to one another in fear of Christ"
Verse 22 -
αἱ γυναῖκες τοῖς ἰδίοις ἀνδράσιν ὡς τῷ κυρίῳ
hai gynaikes tois idiois andrasin hos to kyrio
"Wives to the own husbands as to the Lord"
That is to say, "Wives, your own husbands as to the Lord." There's no verb here. That's because the verb is borrowed from above when Paul exhorts universal submission to one another; meaning that "Submit to one another" acts as the heading of this section and what follows are various examples of "submitting to one another out of reverence to Christ".
It is therefore never that women or wives are the submissive party and men/husbands with the reins of power and authority. Instead it is that, in Christ, men and women, husbands and wives, are co-servants in Christ. Servants of one another in love, and servants of others in the Church, and of our fellow man in general.
The very nature of what the kingdom of God means, and what the Church is as a people and community is fundamentally in opposition to top-down power politics. Power dynamics are fundamentally turned on their head as Christ teaches, "The greatest among you is your slave." "The least shall be greatest" "The first shall be last" "Blessed are the poor for theirs is the kingdom" etc.
Pastors are not lords of their churches, but servants, ministering.
Husbands are not lords over their families, but servants of their wife and children.
Etc.
Christ demonstrates what true greatness looks like, not by forceably taking the reins of power and marching against Caesar; but by taking the beatings of the whip and being nailed to the cross forgiving His executioners and mockers. That's the example Christ has left us.
-CryptoLutheran