Are Branded (Luxury) Marketing Methods More Effective?

Seth Godin predicts the end of luxury brands as the digital age moves to content, agree?

In a post about marketing style, Seth Godin wrote a post on the effectiveness in the digital age. Essentially he notices how digital channels are making branding of luxury items different. Maybe even "worth less"!

The question is actually:

How are branded (luxury) marketing product's efforts more effective than (traditional) content marketing? 

The question is simple. It's been with us for hundreds years. Yet today we still see emphasis by business marketing using branding instead of content. Branding, or luxury marketing according to Godin has been the money machine of the last 50 years:

It's this selling of the logo, of Hermes or Chanel or Champagne that made the last fifty years of luxury production such an extraordinary opportunity.