At the Japanese company that I used to work for, it meant that you were one of the most powerful people in the corporation, and was a sought-after adornment.
Different strokes, and all that...
They never reported a "NotABug." They could back up every report, and give exact reproduction steps.
They found weird, obscure corner cases, and that was by hand (they hated automation tools).
They had 3,000-line Excel spreadsheets. If even one of those rows failed, the whole shooting match (like an entire product line) could come to a halt (so that meant they had to cross their t's, and dot their i's).
They seldom had "opinion-based" reports, and, when they did, the report was presented by the manager, after long discussions.
The company I worked for, was renowned as one of the highest-Quality optical corporations in the world.
If you ever get the chance, take it - you will learn way more about software quality than you thought existed!
Heh, this reminds me of an episode of Top Gear I was watching years ago about quality of British cars. They said something along the lines of "The manufacture sais 'eh, good enough' the moment the car is able to move under its own power.
Hardware != software.
Hardware companies have a really difficult time, understanding this. They insist on running in-house software projects as waterfall-based-measure-twice-cut-once-never-accept-a-bug-count-greater-than-0.
Anything different is "bad quality cowboy."
It can be difficult. I rapidly learned not to use the word "agile," within earshot of many senior types.
This applies to US hardware companies, as well as Japanese ones.
Most folks, hereabouts, seem to think of me as an unbearable, retentive, snob, but my former managers would often think of me as an undisciplined, reckless, slob.
"Every ticket should result in a code change, *or* a documentation change"
was one of the coolest sentences I ever read on some web page.