Actor is out with naughty nobs (11)

I believe the answer is:

aristocracy

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'actor is out with naughty nobs' is the definition.
I can't judge whether this defines the answer.

'actor is out with naughty' is the wordplay.
'out' is an anagram indicator (out can mean wrong or inaccurate).
'with' means one lot of letters go next to another.
'naughty' becomes 'racy' (synonyms).
'actor'+'is'='actoris'
'actoris' with letters rearranged gives 'aristoc'.
'aristoc'+'racy'='ARISTOCRACY'

Can you help me to learn more?

(Other definitions for aristocracy that I've seen before include "those born ahead of others?" , "Upper class, nobility" , "Noble class" , "Upper classes" , "Privileged class" .)

I've seen this clue in The Guardian.

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