The word "Ladies" and the word "gentlemen" both mean the same thing but for the different genders.
Gentlemen does not mean the men are gentle. The word is spent "Gentlemen" not "Gentle men".
It means the men are of a social status that they don’t have to work. They just live off their family inheritance.
Ladies refer to women of such high social status or a woman married to a man of such status. It also refers to a woman who is married to a man that does all the money work while she just sticks to home chores and child-rearing duties.

So, addressing an audience with "Ladies and Gentlemen" is a way of hyping them up especially when 99% of the people there will still get in traffic and go to work the next day.

Are there still true ladies and gentlemen? Yes of course, children of governors, presidents, billionaires like me and shatta bandle, queens and kings don't ever have to work.

Also, in some family arrangements, the women prefer to be a stay at home house wife so as to give the children a more grounded and hands-on upgrining. The men do the other work of bringing in money for the family upkeep and also paying her a monthly allowance.
In such family setups, the woman is truly a Lady.
People who date people who pay them so much money that they don't ever need to work are ladies and gentlemen. If they have to copulate every time they have to get the money, that's work. The title should be bestowed upon them.