The term, when current, was also a pejorative for the idle rich upper class who derived their income from investments that were usually made with inherited money. As you reported, their “effort” at “working” consisted exclusively of clipping payment coupons off of the certificate and sending them in for payment.
You're right... And a future audience? It's how people would feel fifty years from now if a 80 year old candidate referred to "the 1%" ...