I agree with your line of thinking as far as the why. To be fair, if Dale Earnhardt Jr. had any other name he'd've probably never gotten out of Myrtle Beach, and he was the most popular driver in the Series by far the past decade.
Last year in a starting lineup, I counted 7 drivers that were from North Carolina, and 6 of the 7 were the son or grandson of somebody (the Dillons, Blaney, Junior, LaJoie, and Jeffrey Earnhardt, the 7th that was not related to anyone was an anonymous backmarker), It's just how racing works when sponsorship is down. People readily attach to a name. So they have an easier rise up because money is very available and their relations know how the game works, who to talk to, etc.
It's not Chase's fault though, just as it isn't Marco Andretti's for example. I'm sure they try hard and do their best, but there's something true in auto racing of to go Dale Earnhardt Sr. for a second "I need to win to pay the bills this coming week" that forces the guys that do make it into better drivers. It's something that's gotten lost in all of auto racing the past few decades. The modern version is for the best guys it's now more "if you don't win this race, we're done spending money on your career", which is something that created Josef Newgarden for instance but Chase Elliott was never going to experience that.
That said, think it's more the cars are crap than anything.