Had to think about my response to this.
1. Yes, this is a brighter perspective of life. First, it takes place at an earlier time to the Depression and you see Ziegfield lavishly spending at a time when money was often very tight, i.e., the 5 pound tip and the huge bouquets of orchids.
2. Many, if not all, post-code productions seem to not make any mention of the Depression and seem to keep the subject matter of the production very light-hearted.
3. The pre-code films I have seen show chorus girls in very skimpy clothing and in Gold Diggers of 1933 actually titillate with shadow images of the girls undressing on the stage. Also, ladies seemed to answer their doors in clingy robes rather than fully dressed. Also, accepting extravagant gifts from men who weren't family (this is a much earlier time period) and maybe a little hanky-panky and not have the woman be made to do some type of penance before the end of the film. Such behavior was ok for men, but not for women in the post-code ear.