There were WASPs and there were WASPs.
Some of the characters listed: FDR, the Bush Klan, Rockefellers, etc. as well as others like Tom Kean Senior of NJ, Chrissie Whitman of New Jersey. exemplify everything that is WRONG with America today. And most of it comes from denying and rejecting their own heritage.
You are absolutely correct when WASP began to stand for White Anglo Saxon Pagan and not Protestant, the decadence and decline became inevitable.