Yup, those status symbols are for poor and upper middle class people.

• poor - a few nice things makes you appreciate them a lot
• upper middle class - no need to save money on such things, so you get "the best" or whatever
• rich - you get bespoke stuff, "designer" stuff is for plebs
• middle class - "a few nice things" isn't as good as "lots of pretty good things" and a funded retirement

Source:

• poor - my in-laws
• upper middle class - DINKs I work with, wealthy neighbors
• rich - movies
• middle class - me