I was on a supply house trip to Monoco in 2016. It is a small country with unbelievable wealth all around. Yachts in the harbor, Bentleys, Rolls Royce, Lamborghini's to mention a few. When dining, the establishments asked you not to approach any celebrity or royalty and no photos. The ratio of police officers to people was one to every 100 people. You could eat off of the streets they were so clean. The only attractions to visit in Monoco included an aquarium, the casino (which required suit and tie to enter) and a tour bus that drove through the short area where the Grand Prix was while he offered stories of people who tried to gain tax exempt status without living there full time and how the punishment was rough. Both France and Italy are a short train ride away and both seem dingy compared to Monoco. They spend months preparing for the Grand Prix because of the limited space available for spectators. It was amazing to visit but I have no desire to return. It was exactly as you described though just a playground for the insanely rich.