“Elites” is about as useless a word as “woke” or “terrorist”; depending on who you ask, you will get wildly different (and often mutually exclusive) answers on what it means.

Hrm, this seems logically flawed — it appears to be an association fallacy: Let A be a set containing “Elites”, “Oligarchs”, and “Plutocrats”. Let B be a set of things that are considered “bad”. Let C be a set of things that are considered capitalist. If A is a subset of B, and A is a subset of C (assuming that that is a correct subsumption), that doesn’t imply that C is necessarily a subset of B.

Of course, to avoid forming an argument from fallacy, I would like to clarify that this isn’t to argue that the final implied claim of “capitalism is the problem” is wrong, but simply that the argument used is unsound.