Yup they do! Not all of them, but a lot of them will proudly tell you that Shanghai was "the biggest urban metropolis in the Far East" before Mao and the Japanese ruined everything. Having said that, Shanghainese with nostalgia for KMT hates Mao, but they also hate the Japanese for putting an end to the supposed golden age of 1927-1937 (the Republican Decade). On the other hand, they tend to see the British, French, and Americans as "advanced people" making Shanghai prosperous and rich.
I like how this group of folks try really hard to resolve social tensions within China. The video they made about Shanghai is quite encouraging and provides an optimistic tone. Nonetheless, the 奶奶 at 2:26 hits the main point of what we are arguing about. Shanghainese sees Europe and America as "advanced and developed nations" worth learning from. That's a very rational way of describing the attitude.