Having worked in finance on the buy side, I can say this was not true for me or the dozens of people I knew who use it. Neither I nor others I know in the space use the terminal as a place to "hang out" with wealthy people.

Bloomberg's tooling is quite good, and you can get 80% of the way to a bespoke chart with 20% of the work.

Not sure if the above is speculation, or parody, or just a projection of a stylized view of how finance and the world works. But definitely the above comment is confusing / misleading to people who don't work in the industry.