This is especially true with luxury brands like Louis Vuitton, Gucci, and Prada. People are either trying to impress others with fakes, or they’ve actually paid full price to become walking billboards.
Similar thing with iPhone cases that have a cutout for the Apple logo. That’s just hilarious.
Here’s the difference: that 20k outfit doesn’t have logos all over it. Your average SUPREME enjoyer isn’t going to recognize an outfit like that - only those truly informed on the matter, or other wealthy individuals, would. It’s like wearing an entry-level Rolex; it hardly impresses anyone. A true baller wears an unassuming Patek Philippe. There are those pretending to be wealthy who can only fool poor people, and then there are those who may not seem wealthy at a glance, but those in the know can tell.
African American culture is the antithesis to your argument. Even the most wealthy individuals sporting logos of all kinds, literally as status symbols.
I agree that people have become walking billboards, but I don’t think it’s always black and white in fashion, it’s much more complex than “rich people don’t wear logos”