Is it possible that it still counts as "putting on airs" even when done by academics?

I had a long stint in academics as both a student and as research staff, and I noticed many instances of unchallenged self-aggrandizement within that community. I could easily believe this to be another instance of that, even if institutionalized.

Edit: FWIW I haven't looked into this history of this particular topic. There may a respectable explanation and I'm just ignorant.