The pointy shoes are a shibboleth. They identify a group not despite their impracticality but because of it. Another example is the belief in miracles, the more unlikely the better, because it is the absurdity of the belief that distinguishes you from unbelievers.

There are oodles of such shibboleths in modern times, particularly in politics. Just think of any political proposition that is absurd on its face and more absurd on reflection. If it's still widely supported by a particular group that may well be because of its group-identifying absurdity rather than despite it.

But it is often not a scam of any kind, but sincerely accepted by adherents. This kind of cognitive flexibility goes a long way toward explaining modern politics and not so modern religions. I suspect pointy shoes may have been the same, with their wearer's convinced of their inherent value.