Sounds like one idea of traditional marriage. The woman promises to provide sex and the man promises to provide.

I think this view of "traditional marriage" comes from fetishizing the 1950s, Leave-it-to-Beaver nuclear family. Go back a bit further and you'll find the aristocrats marrying for political reasons while a peasant's household required everyone to work long hours each day.

No, what you described is a trophy wife, a way for a man to signal his wealth by having a wife who can spend her days being idle.