That's an unfortunately simplistic look at this. He and Andre 3000 (and maybe Kanye and Jay-Z , but to a lesser extent) are dissassociating this specific sort of sartorial elegance from Anglo elitism; it's no longer a rich black man on the street wearing clothes automatically associated with urban blacks (see - Clyde Frazier then; Lil Wayne now), but rich black men wearing the sort of clothing automatically associated with "old English dandies". Dude still has a bit of 'hood in him and I appreciate that.
This is great. Someone actually thinking it through. Quoted for truth.