His analysis of myth (as reflection of the time of its writing, hence as real as the envelop it come in) makes sense. For example take the case of Bible as a myth: As the myth unfold we find a nation claiming to be God’s chosen people and meeting with its inevitable end with Empires such as Babylon and Romans proving them wrong. This plot is as real as the envelop (called Bible), the frame of the fiction. Try the same at anytime--we get the same result.
Tragedy is that people do not take lesson from myth, not even from own experience. In one mythological story, God of death tells "He who has no debts is truly happy." This is what everyone knows--yet look at the rulers/leaders (governments)--all of them choose deficit budget spending more than income, and go on a spree of borrowing or printing (easy) money (Fiat system) which would meet its necessary dead-end at one point.