Misleading in my opinion.
As if all Pakistanis were playboys and flaunting money. The vast majority of the Pakistani diaspora in the West today comprises of hard working folks who toiled as doctors, engineers and in other professions. These were the folks who came to the West in the 50s, 60s, 70s and they have, for the most part, retained their Islamic outlook and have grown more religiously inclined over the years yet they maintain their belief in Quaid's Pakistan.
Secondly, the class that is being discussed in this opinion piece thrives to this day in Pakistan as the so called elite of Pakistan. They have not gone away, they still shop and eat in the West and throw lavish parties. Its just that they do not have as many Westerners visiting them so their glitzy way of life is kept away from the Westerners and Indians. Suffice it to say these very same people live on as they have before and they never represented Pakistan fully, only a part of it thus basing one's opinion on the class or a few of them at Oxford (a school frequented by foreign elite for its name), is a massive stereotype.
Pakistan's Islamization is shaping the country for the future. It won't be without violence and disruption (I tend to believe its probably better that all of this stuff is being sorted out as it had to). However the argument of the Indian side is to always put down the Islamic nature of Pakistan to make a point that Pakistan was not needed. Well you can pick gripes with our Islamization, sooner or later we had to come to terms with it and once all is said and done, it will bring stability to Pakistan.
Yes Pakistanis are a flashy bunch and sometimes this gets the best of them, but looking at today's Indian Bollywood and cricket, one can say the same that the hubris may get the better of them one day too.