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It's all about class, which is another way of saying it's all about inherited wealth and property, and the superiority, narcissism, and entitlement that go with them.
The US has the same problem. So does Russia, in its own way. China is about to start suffering from its own version. And of course the Saudis, and to a smaller extent Israel, are also examples.
The Left has been framing this the wrong way since Marx. It's not that he was wrong about capitalism, it's more that he didn't seem to appreciate the extent to which capitalism is just an industrial reinvention of plain old vanilla aristocracy.
Unless you take very active steps to dilute resource accumulation and political power across and within generations, a parasitic, self-destructive, and not particularly distinguished aristocracy is the inevitable outcome.
Conversely societies in which concentrations of wealth and power are tightly controlled are far more likely to be socially and economically creative.
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