Net worth $500K-$4M is "upper middle class".
Net worth $4M-$20M is "merely rich".
Net worth $20M-$100M is "really rich".
Net worth > $100M is "ultra rich".
I think they miss this top bracket: "> $1B is "filthy rich".
Yes, I would consider myself "upper middle class" and am comfortable with that label. I would not be a DIY'er if I were rich.
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The article cited by the OP showed that the 1% bracket is $2.7M minimum per head, and that is after the assets are divided among spouses, mistresses, children, in-laws, servants, pets, etc...