Yes, Pluto is now a dwarf planet, part of a new category of trans-Neptunian objects. Ceres and Xena will join Pluto as dwarfs.
"Pluto was the Roman god of wealth and the counterpart of the Greek Plouton, for the riches found under the Earth's surface and from which we get "plutocrats" and "plutocracy."
I guess we plundered most of the riches under the earth's surface by now (oil and so on,) so, this is prophetic justice for Pluto to become a trans-Neptunian Dwarf.
There is either a Classic Greek Tragedy or a rock-rolling science fiction somewhere in these facts.