“Status is just an agreement”..

Not a single status symbol or story is ever safe from devaluation, as these symbols and stories are mere agreements between groups of people. For example, the moment ‘society’ agrees that a car is just a method to safely move from A to B (or a nuisance that needs to be avoided due to environmental worries and space constraints), and not one of the dominant indicators of one’s financial standing (as it is now), luxury car manufacturers will have a problem.  (from trendwatching)