I'm solidly in the camp that believes that if Graham wasn't rich no one would read this stuff or claim to admire it. He also should have run this through a spell checker.
I think it’s true that the impactfullness of his essays has gone down in the recent years. However, note that a lot of people that gathered at HN in the early days came because of his early essays, such as Hackers and Painters. Me included.
A little unclear on what your point is. If it is that Graham is widely read in a way that other rich people aren't, then that's just wrong. Outside of the VC and startup scenes, he isn't read at all.