Glass & the Machines of God elevated upon a pedestal and adoringly worshiped by the crowd as demagogue rock stars.
The sardonic and satirical projection dreamed up by Billy Corgan as a fictitious, "fake version of the band", was loosely born from the exaggerated qualities attributed to The Smashing Pumpkins via the critical eye of the public (more specifically, the media).
It may very well be that Glass & the Machines of God were initially founded on good intentions, guided by a man who thought that the voice he heard inside his head must be delivered to the public, but they were at the very least misguided in their attempt, as their message is delivered to a hollow and vapid crowd via the soulless mechanism of rock.
Some fans that I have spoken with have maintained this plate to be nothing more than a rock concert - with the band performing and the crowd enjoying it - though I am highly skeptical that is all that is at work. While on one level the band aspect is there, there exists to me a certain sinister or Machiavellian sense of demagoguery to it all, recalling an equally Machiavellian period in our history in which propaganda and crowd manipulation were disposable tools of fascist governments to control the hearts and minds of the public (one could argue those same tools are implemented today, and I'd regretfully be inclined to agree).
Perhaps speculative, but I believe there to be sufficient parallels between this plate, and large, Nuremburg-esque rallies, such as those depicted in the Nazi propaganda film, "The Triumph of the Will". Before you dismiss this, keep in mind that the first shadowy figure to the left is standing atop the pedestal of an eagle, very much in similar shape and form as utilized by the Nazi party.
Left: Shadowy figure upon an eagle pedestal.
Right: Triumph of the Will