Is there a reason that this has to be either/or? Can't the answer just be "yes?'
I think that Holden is a spoiled kid who does not appreciate the opportunities that he has. However, that does not mean that his concerns are not real.
I think that many teens feel the way Holden does, even if they are not spoiled rich kids. Teens often feel that other people are phony and they often feel like everyone is in some way out to get them like Holden does.
So I think Holden is spoiled, but I also think that a lot of teens feel angry and alienated because they do not like the way that society makes them feel.