What you're missing here is the power and political influence of the ultra-wealthy. They aren't just passive participants in the system. Rather, they actively shape the system to suit themselves. They can buy politicians. Or as you said yourself, "the ultra wealthy buy up a few media firms and then gently redirect all the anger towards the middle class and/or stirs up social issues." You mentioned Musk: he bought up Twitter, the influential social network, and has turned it into his own political propaganda machine.