You missed the author's main point. The term is not necessarily pejorative.
When the elite who run a country have good morals and high standards, then you have a good country. If the elite become corrupt, you have a corrupt country.
We , as a nation, have been governed by " elites ", of one form or another. The FFs were no exception. Washington was " annointed "; to use mercy's terminology.
Jefferson was a hypocrite , a wasterl, and personally irresponsible.
Burr was Clintonian .
Franklin was a womanizer , as well as having other not so nice traits and habits.
That's just for starters. It's an unnecessary waste of bandwidth, to continue ... but fact is prefferable to myth.