Actually most adults actually do care about social status. That is why they brush their teeth and generally dress up in nice clothes instead of going out like slobs, so they don't have the same social status as a homeless person.
Social status is going to be conveyed one way or another by the public. It might be conveyed by a set of people (kids, people working out at the gym) by an iWatch, but another set of people with Movados or Tag Heurs is going to look down on that, while another set of people with Rolexes or Patek Phillipes or Richard Mille Tourbillons is going to look down on even that.
Which social status do you want to have? Would you like to have a social status and be treated like a homeless person?
If not, then you care about social status.
The homeless are human beings too, just like you and I. So just because they are homeless they should be treated differently? I treat people the way I like to be treated. I respect people for who they are. Everyone doesn't lead a glorious life and have the things that many of us take for granted.