An affordable car with good gas mileage is a status symbol? A Prius was an environmental status symbol 10 years ago, but now it's just a practical choice for people who want a reliable and (relatively) cheap car.
The starting MSRP of a base model Prius is 27% more costly than the Corolla a similarly sized car w/ a standard gas engine.
Sometimes a cigar is just a cigar. I drive a fairly economical Jetta. Is that also a status symbol or did I just need a cheap, reliable car to get from point A to point B?
Is it wrong to reward good behavior with higher social status? I think not.