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Magnificence of cryptic clue? Nope! (8)

Ross

I believe the answer is:

opulence

I'm a little stuck... Click here to teach me more about this clue!

'magnificence' is the definition.
Although both the answer and definition are singular nouns, I can't understand how one could define the other.

'cryptic clue? nope' is the wordplay.
'cryptic' indicates an anagram (a cryptic or obscure order of the letters).
'clue'+'nope'='cluenope'
'cluenope' with letters rearranged gives 'OPULENCE'.

'of' acts as a link.

Can you help me to learn more?

(Other definitions for opulence that I've seen before include "Plenty" , "State of wealth and prosperity" , "State of affluence and luxury" , "wealth is manifest" , "State of wealth or abundance" .)

I've seen this clue in the Sydney Morning Herald.
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