There have certainly been rebellions, as in the French Revolution, so it hasn't always been a cold war. But it's mostly been just that. Even with all the modern liberal advances that are supposed to liberate everyone and prevent the rise of tyrannies don't seem thorough enough. The natural tendencies to form dominance hierarchies re-establish themselves in our "progressive" cultures, and the richest one percent rule much from behind the scenes of democracy and capitalistic competition.
You seem to degree that the poor masses ought to demonize the alien rich. But what I was trying to do here is to explain that the demonization likely goes both ways. Each side is estranged from the other. We might as well be talking about extraterrestrials, in which case we'd just be begging the question if we evaluated the aliens/superrich by applying the standards of the masses' slave morality.
One thing we should do is try to put ourselves in the alien's shoes, as it were, to understand fully what's been going on.