If the oligarchs were wiped out, would people live good and simple lives? Probably not. There's a lot of vile people out there.
In fact, the oligarchs and the people are really very similar. The common people hope to live like an oligarch, so they play the lottery, or have dreams of a sudden gain in future wealth. The oligarchs basically won the lottery, or stole what they have, or in some cases "worked" for it--really conned others into working for them. How different are they except in their success at acquiring money? They both have massive appetites and a desire for power and control over others.
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