No, it confuses material success with human worth. And this is not a new human behaviour, it's just exacerbated by increasing inequality, and made more obvious

No, it confuses material success with human worth. And this is not a new human behaviour, it's just exacerbated by increasing inequality, and made more obvious when the rules of success change, favouring different social groups. American society's infatuation with gungho capitalism certainly plays a part (thanks, Edward Bernaise), but I'm convinced it's a hard wired behaviour, like our preference for attractive people. Associating ourselves with both attractive and the powerful provide an evolutionary advantage.