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most people who place high status on them have no real idea why, just that they have such reputations.I think this is a very good point and it reminds me of discussions during my undergrad days.
>the very comparison of 'truck vs tesla' depends on a global, and contentious, notion of status.
This is the opposite point I was making about the status of each being non-global in nature.
As I've moved around the country, I've come to realize the local effects on university status. Some schools, like those Ivy League institutions are almost universally revered. Others seem to have local reverence that doesn't translate well. I've lived in some areas where the local universities have a supremely high status for reasons that aren't valued elsewhere (athletics comes to mind -- some schools are 'great' because they have a good football team while having an almost non-existent basketball program and vice versa. It's a bit strange to me how this can confer status to students who only interact with the programs as spectators. Academics similarly; having an MIT degree confers status even if it was in liberal arts). Outside of that local bubble, people put almost no stock in said school but within that bubble it carries a lot of status if it's on your resume because of local cultural (i.e. societal) bias. And people seem to make choices more biased by their immediate social group. As you allude to, much of it seems to simply be inertia of what the herd mind reinforces. It's high status simply because everyone has agreed it's high status. But I still contend that requires a reasonably large social component biased by the local bubble.
It will be interesting to see in the coming decades if social media dilutes those local effects.