I agree that status can be important in many respects, but status achieved from one's own accomplishments and intellect (as an entrepreneur, for example) is completely different than status created by owning an overpriced shiny rock or expensive clothing. While there is certainly societal pressure on women to display status through material means, they also have a choice as to what kind of status they value and thus what type of people will value them.
All true, but shiny stones are used by many as indirect evidence of status. If you're of such a high status you can afford to deck yourself out in jewelry; jewelry and other status symbols act as shortcuts and status messaging.
It's definitely true, however, than many people loose the forest (status) for the trees (jewelry).
