Yes. Also, I wonder if they are mistaking what we often call "success" or a high income with true intelligence. I know many people that could've gone onto very high paying jobs if they'd been born into the right circles - let's face it, in many instances it IS who you know and not what you know. You can learn the what very easily but getting in the door might require some effort. Also, there are plenty of rich and very high level people that produce children that grow up to be selfish, greedy and unwholesome. We had a very interesting story here in Cleveland over a year ago about a man that went through the most elite of private schools and he ended up screwing a bunch of people out of their investments (look up Frank Gruttaduria on Google) and he would have been considered in this upper tier, according to this article. They can HAVE their tier!
At the rate they limit their own family size (and abort the rest), they may very well darwin-ize themselves right out of existence. One can hope :-))
Intelligence doesn't denote honesty.
You can be both smart and a crook.
And yet...I know many people with MBA's, born and raised with all the perks and opportunities possible that are complete idiots.