The cultural elite is completely different from having money. It is the same reason that Trump was ridiculed for putting ketchup on steak or why journalists/post-docs are willing to make pennies on jobs that grand them access the cultural elite. I give the example of Trump because he the clearest contrast that differentiates wealth from the elite.

Phrases like 'Nouveau Riche' or 'Paise aaye, par aukaad nahi aaye' (money without class) have existed in different cultures for centuries. This is not a new concept.