I think it was a "status symbol" (at least in my area) when it was exclusively on ATT. Having that carrier restriction alone made it difficult for a lot of people to own (both around my area and throughout the country), thus by default creating an environment where owning one was unique. We have several Verizon stores in my area but ZERO ATT stores...so for someone around here to have an iPhone was really unique. People also thought you were kind of an idiot for buying a phone that got nearly zero reception.
Making it available on Verizon (and other carriers), coupled with newer generation iPhones coming out and older generations becoming cheaper and easier to obtain...it sort of saturated the market in a way. It went from being unique and different to somewhat commonplace.
However, I would NEVER say that people who own an Android device are thought of as being the hip, cool people that are on the cutting edge. There are a small percentage of people who buy the latest and greatest Android device to be on the cutting edge of that technology...but in my experience, most people buy an Android device because they are cheaper to buy, they have some trepidation about getting an Apple device (i.e. Windows people who think buying an iPhone is the same as switching from Microsoft to Apple...dumb), or their carrier doesn't offer the iPhone. US Cellular is a major carrier around here (5th largest in the country) and they don't offer the iPhone (and probably never will), but they have great reception in this area, most people around here have been with them for ages (since they got their first Nokia candybar style phone back in the day), and their customer service is excellent.
I think anymore it's less of a status symbol to just own an iPhone and more of a status symbol to own the latest iPhone. Like others have said though, if you want a status symbol, buy a Lambo...a cell phone doesn't cut it.