You’re trying to analyze a song that people in large numbers across the country and the world can relate to. Why? The song recognizes people’s optimistic ambition, but also the negative realities of life and living in any major city. One side of the song wouldn’t work without the balance and recognition of the other.
Although, having said all that and much more importantly…it’s a damned good song. It raises people’s spirits and there’s nothing wrong with that in a recession.
I also enjoy the fact that some don’t like it much or complain about ‘Hippy Hop music.’ It’s akin to hearing some ‘granddad’ (Hannity, Limbaugh yawn etc) compare and complain about rap/hip hop (or rock and roll) with their own preferred musical taste, which isn’t offensive noise.

Should Jay Z modify his song’s lyrics? No, you take it, watch it listen to it as intended. Didn’t wider audience come to him and accept him in the mainstream. You could always get Pat Boon to record it like he did Little Richard’s Tutti Fruitti.

The only change is a generational one Daddio! How very Rock and Roll!!! Is there’s a change in Corporate America? …Not really, they just see a demographic opening!!