Two New Musicals Poke at the Seamy Underbelly of the American Dream

“It may surprise you,” Jackie Siegel says, “but we are not old money.”

Surprise us? Probably not, but there were some context clues. Such as that she utters these words while dressed to the pink and sparkly nines, holding a tiny, fluffy dog and perched in the lap of her decades-older husband, David, whose capacious, ornately gilded chair suggests delusions of royalty.

So does their home construction project: a 90,000-square-foot house modeled on the Palace of Versailles (because, you know how it is, their current 26,000 square feet are feeling cramped) and built, Jackie tells us, “in the most beautiful place in the entire world — Orlando, Florida.”

The audience at the Emerson Colonial Theater in Boston got a good guffaw out of that on Thursday’s opening night of “The Queen of Versailles,” the surprising and frequently excellent new musical starring an utterly disarming Kristin Chenoweth and co-written by her “Wicked” composer-lyricist, Stephen Schwartz.

Then again, it may be a sort of genius to stage the world premiere of this show, which has already announced a Broadway run next season, in a city that is fundamentally identified with the origins of this nation and constitutionally disposed to adore old money but turn its nose up at vulgar flash.

Because “The Queen of Versailles,” based largely on Lauren Greenfield’s 2012 documentary of the same name, is as much an exploration of the seamy underbelly of the American Dream as is the very different new musical “Gatsby,” wrapping up its own world premiere across the river in Cambridge. (More on that momentarily.) Like F. Scott Fitzgerald’s Jay Gatsby, Jackie Siegel came from not much at all, left her humble roots behind and — with a husband (F. Murray Abraham, in terrific form) whose beginnings were similar — reinvented herself on a scale so over the top that strangers can’t help gawking.