Again, this doesn't surprise me. In fact, much of the 1930s featured escapist films from Hollywood, precisely because of the Great Depression and audiences needing an escape. There is nothing wrong with that, but if you peel the layers of even something as fantastical as King Kong, you'll see the Depression is there, lurking under the surface.

To cite another film of the time, the lesson of Sullivan's Travels is an important one. I won't expound on it, as it is much better seen and discovered for oneself. :)