Compared to the Victorian era, men in the 1940’s were slobs, too. The idea that clothes are a status symbol is something I am glad has diminished.
That's a straw man argument.
You can shop at Neiman Marcus and still dress like a slob. You can shop at Walmart and dress with dignity.
How much of a status symbol is wearing hard shoes as opposed to flip flops? How much of a status symbol is wearing long pants instead of shorts? When did tucking in your shirt become a status symbol? And guys, those silly baseball caps make you look like Goober Pyle.
The problem is not one of status symbols; the problem is 54-year-old men who dress no differently than they did when they were 4 years old.