(EDIT: I didn't mean to make the above sound mean or anything—your description is both precise and accurate.

"Decadence", in the sociopolitical usage, is simply the word which also refers exactly to the concept you have described—perfection that "is precariously hanging on the edge of destruction": http://en.wikipedia.org/wiki/Decadence, and specifically http://en.wikipedia.org/wiki/Decadence#Leninism, for the sense in which this city was created while striving to "win" a game like SimCity, which keeps score through profit from taxes.)