I think this is accurate, and I say this as a ballardophile.
The alienation of people within such a society and their increasing obsession with catastrophic death is a subject for deep exploration, and this is the primary subject of Ballard's subsequent fiction. The greatest strength of this late fiction is that it penetrates profoundly into the morbid psychology that comes from living in such a society; its most critical weakness is that in pursuing this exploration, Ballard loses sight of the underlying causation of the psychopathology of everyday life in decaying capitalism. He leaves behind his own best insights, in stories such as "The Overloaded Man," "The Impossible Man,” “Build Up," and "The Subliminal Man," which show the individual human being as the victim of an inhuman social structure, and begins to stand the world on its head, making the psychology of the individual the cause rather than the product of the death-oriented political economy.
Underlying the elaborate verbal structure of the late fiction are some fairly simple, in fact simple-minded, ideas about social reality. Indeed, the formal pyrotechnics disguise as much as they reveal of the ideational content. Clad in an elegant costume is the tired old idea that human nature is basically brutish and stupid, that people are inherently perverse, cruel, and self destructive, and that's why the modern world is going to hell. High-Rise, his latest novel, is virtually a parody of this notion. Such a vision, I believe, is merely a projection of Ballard's own class point of view, a myopia as misleading as the national and racial point of view in the earlier novels and intimately related to that narrow outlook.