This is a odd thread , believe me the vast majority of you will have done vastly worse things in your life's than over spend on a bit of hi-fi so maybe rain in the moral superiority complex.
Hifi as a status symbol? Not for quite some decades ! Nobody you'd bring into your home would have the first clue about what you have , that level of public recognition for hifi brands died back in the 80s.
Generally what happens is you want a better audio experience, you read mags for reference and follow the path layed out . Reading and absorbing the ' reviews ' and all the while being indoctrinated .
There's plenty of ordinary people out there, nice people, kind people that happen to be successful and happen to have spent some money on audio products that they aspired to own for a multitude of reasons.
I see a financially successful person, I say good on them ! Most of us live in a consumer spending based economy so if they're out there spending money they're helping you. No need to be all bitter about it .
You want to be pissed off aim that at the magazines and media. Do something positive , try and make a difference by being as proactive and friendly as you can be to the folks that turn up here as when your not it just pushes people back to the corrupt media sources like ' what hifi ' and stereophile magazine etc .