I don't know about everybody affording a Ferrari, I think if everybody would be that wealthy the price of status symbols would simply go up. Status is something very important in our psychology.
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That maybe true yet it is evident that status symbols change.
There was a time, in the US, when a mobile phone was a tremendous symbol of status. Now kids have them. The same was true for large music collections, and designer jeans.
All of those were phased out over time (and within a fraction of one's lifetime).
So it does appear human psychology can change and do so rather quickly.
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status symbols always change with time, the only difference is the fact they change really fast in our fast paced era
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