I’ll absolutely reuse a worn out tailored pair of pants made from good fabric for working or hanging around. I don’t wear business-powersuits, though and that makes a difference for that kind of re-use, I think.
Depending on what you mean by “suit” exactly, people have absolutely worn them in the field for a long time and some still do. British farmers in some thick, hard-wearing tweed or felted fabric trousers, Wellington/work boots, a work shirt and depending on the temperature a more or less suit-like jacket are sort of a cliché, for example. I’m not really arguing against your point, though - just saying that it’s a bit of a continuum and there are many things between the completely impractical tie-dangling machine and jeans+t-shirt.