It was entertaining to reread this as an adult--my mom read it the same time i did back in like 2007 and we had a conversation that was basically the following:

Mom: Obviously the magicians are based off of British nobility.
Me, eleven, only faintly aware that Britain exists in a capacity outside of the chapters on the American Revolution in my history textbook: Yes. Of Course. Obviously.

...but now that i'm not 11 it is Super obvious. and boy howdy has it got some things to say about class divides.