You know what I look like in a suit? I look like a biker who's trapped in a monkey suit. It's obvious to everyone who's not legally blind that I'm pretending to be something I'm not, and that I'm as uncomfortable as hell doing it. What's the point of that?
Some situations require a little bit of suffering. A wedding, a funeral, a formal restaurant. I'm not saying we should revert to my grandfather's day, when many men considered it innappropriate to leave the house without jacket and tie, but some occasions should not be casualized too much, IMHO.
The thing about suits is, they're egalitarian. Everyone looks more or less the same in a suit, whether a biker or a billionaire.