Just as the BRICS was overhyped for the past 15 years or so, I’d be wary of dismissing the grouping entirely. The New Development Bank is a tangible accomplishment. And the BRICS does share a genuine resentment about under-representation in traditional global governance structures. That resentment can animate the group’s purpose for a while.
But if the BRICS has lost Goldman Sachs and the D.C. think-tank community, then I think it’s safe to say that its Golden Age has ended.