In my opinion, the need for "status symbols", and the need to impress others, is a sign of low self-esteem.
Beyond that, I can't understand or imagine why anyone would buy things just to try and impress people they know, much less total strangers on the internet.
How much money one has, or spends, and what material possessions one owns, are very poor means of measuring the quality of a person. And to measure a person using such criteria is just as pathetic as using money or material possessions to try and increase ones "status".
In contrast, I see a big difference between seeking "status", and engaging in "mutual appreciation" or displaying pride of ownership.
To display ones possessions among like-minded enthusiasts, like posting pics of your new knife on BF or showing it to another knife enthusiast, is not something I would automatically regard as an attempt to gain or increase ones "status". Instead, I would likely look upon it as nothing more than an exercise in "mutual appreciation", or pride of ownership. Of course, if the person doing the displaying is in fact trying to increase their "status", then as I said, that's pathetic.