By the way, good credit isn't a given, almost 35% of the population has no credit or credit so bad they can't get a credit card at all. Talk about a status symbol. The ability to not worry about getting credit or making on-time payments is a big one. So having an iPhone X is not only telling the world you have money and only want the best, it's also telling the world you are very healthy financially.
Again, it's all about context. If you're in high school you think it's perfectly acceptable to have a cracked mobile screen and a popsocket. f you're a college student, you think everyone knows about Android. If you're well-off with a good job and a good credit rating, you think everyone else has one too. If you're a 40+ successful senior executive it would be career suicide to be seen with an old iPhone in a ratty case.