Not to turn this into a YPIS situation (or more of one), but I'm pretty sure that "working-class kid from Jersey" qualifies as something other than moneyed, elite white person, and might be closer to "working-class kid from Tennessee" which might itself be closer to "poor man from the Delta" than said other, richer, more powerful white people.
It's also weird to interject race into one of the really important cross-racial moments in American popular culture. Allen Freed and Dick Clark and Elvis had a lot to do with removing the stigma against "black" music. So did Chuck Berry and Little Richard and Bo Diddley (the three of whom have a pretty interesting conversation on this topic in the Chuck Berry birthday/concert film Hail! Hail! Rock 'n' Roll). But Elvis is one of the critical moments at which those streams converge, when the world of black music opens up for white audiences. So... yes, the moment at which white people realize they can enjoy and attempt to play the music of black people is crucially important; a rising tide is going to lift all boats.
(Muddy Waters, famously, was painting the ceiling of Chess Records the first time the Rolling Stones showed up. But they liked him and played his songs and helped him achieve a higher, more satisfying level of popularity, so he could go back to playing music full-time. This isn't white people acting as saviors, this is a group of legitimate fans raising the popularity of one of their idols. And this happened with a lot of musicians whose work would otherwise have been neglected or forgotten. I seriously fail to see the problem here.)