I think it's a hype too, but the index is all about perception, and has very little to do with reality. Rich people are getting richer, is about all you can tell from it. It's a very poor indicator of the general state of the economy.
I know why it is, but it's a political observation, and that's off-limits here. Yes, like no other time in my life this is a rich-getting-richer environment, on steroids.