Nah, Brazilian culture is pretty homogenous in that regard. A lot of our culture is dedicated to not looking posh or seeming too rich, more value is placed on being perceived as down to earth (some exceptions notwithstanding).

Parties are communal and informal partly because of income: everyone realizes bankrolling a large party by themselves is pretty expensive so everyone pitches in. Even if you can afford it you don't want your guests to think you're too rich as that's not as cool.

We're only exposed to formal dinner parties and large orchestrated events through fiction. Even the Brazilian fiction that features it carries a more aristocratic view of parties like that, reserved for the ultra rich who want to feel European.

So that single classification is pretty correct.