This was satire. Very gentle satire. Wodehouse's world had ceased to exist for the most part by the time he was writing his stories. That was the writer's intention--as Orwell points out, he was not intending to satirize the aristocracy for Americans. (The point is extremely complicated.)

It can be read however you want to. Wodehouse was definitely not a satirist in the Jonathan Swift/Evelyn Waugh vein.