SLB's movies tend to be larger than life and focus on grandeur and opulence. There is some embellishment. However, I don't think there is any intentional misrepresentation or glossing over their genuine hardships.
I agree with MEB that SLB portrays a somewhat feminist take on prostitution. There is a level of humanization and compassion that he bestows upon them. He doesn't resort to the male gaze but gives them the dignity of sharing their lives through their perspectives.
I also think SLB pays more attention to the deeper history of tawaifs or courtesans and not the modern erasure that sees them only as fallen or downtrodden women.
As MEB said, courtesans weren't prostitutes. They were entertainers. They were well-versed in traditional dance, music, theatre, and literature. They were often members of the royal court and considered well-versed in etiquette. Not just sons but daughters were also sent to courtesans to learn etiquette. Courtesans trained noblewomen in the arts and graces so their fathers could present them as suitable brides.
Some courtesans did indulge in prostitution. Many were concubines to kinds and nobles. But many merely entertained. The kothas had wealthy patrons, and the women did live luxurious lifestyles. Many were privy to drunken nobles secrets and used them to manipulate nobles and wield soft power.
SLB doesn't shy from the juxtaposition that despite enviable wealth and soft political power, they never had respect or equity in society. Chandramukhi enjoys considerable wealth and popularity. But even Devdas despises her. Her patrons are unafraid to put her in her place if she crosses the line. Chunni is the only one who treats her as an equal and a friend.
And it must be noted that colonization changed courtesans in India. It was during the British colonization that social perceptions started shifting. They went from being teachers of graces and etiquette to the seedy underbelly of society. They started losing royal patronage and support and were now forced into prostitution to sustain themselves.
If anything, SLB shows an ugly truth to society. Prostitutes exist because those among us in polite society desire them. They live in luxury because those among us in polite society want to indulge in their carnal pleasures in luxury. Yet somehow the prostitute is the one we're wary of and look down on.
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