It's more nuanced than that. It's a variation on the Nixon southern strategy as described by Lee Atwater in 1981. There simply aren't enough plutocrats to win elections. https://www.thenation.com/article/exclusive-lee-atwaters-inf...

If it weren't, they'd have halled in Steve King from Iowa into the House an expelled him for what he said over the weekend. People are Americans because of shared values, not this illiberal bloodline nonsense espoused by King and the ignorant redneck wing, or the inheritance and primogeniture wing. They smiled and said nothing over birtherism either, they took the wins.