Do the decadent world and the power of wealth presented in The Great Gatsby hold little relevance to a modern reader?

I would argue that the novel is more relevant to modern
readers now than it might have been 20 years ago.  Right before the current recession,
many Americans were living beyond their means.  While they didn't live in Gatsby-esque
houses, they were certainly buying houses and other material items that they could not
afford to maintain.  If one considers that the Roaring 20s led to the Great Depression
(in part) and that America's obsession with materialism and propensity for taking on
debt led to our current situation, then the modern reader should see many similarities
between Gatsby's time period and ours.

Additionally, wealth
is just as powerful in today's society as it ever was.  In regards to the wealthy buying
their way out of trouble or buying their way into positions of power, examples in
politics and entertainment abound.  Many of the powerfully rich still have an elitist
attitude similar to the Old Money folks in
Gatsby.

While our version of decadence
might differ from Gatsby's and Tom and Daisy's, we still have shows such as
Cribs, The Hills, The Real
Housewives series, etc., that show the rich eating out every meal, paying
exorbitant amounts of money for items of clothing, and furnishing their second or third
homes as if it's nothing.