Wow, what a lively discussion ?
No kidding!
I'm particularly enjoying the 'no you're not being judged any longer' side with points such as:
. . . As long as we look presentable in business we’re good. . . .
In other words the basic point is not in dispute, you are going to be judged by how you dress, accessorize, and present yourself - as long as you look presentable. Heck, some are likely to be judged negatively by going over-board with luxury goods when they may be attempting to make the opposite impression.
Some people like 'nice' things and chose to display them and put them to use during the working day, others do not. Some times for the impression they may want to be making, other times just for their own self-satisfaction. So what? Good for them, either way.
And spare me the examples of silicon valley executives who wear t-shirts and tennis shoes as if that will work for everyone. It will not. Their success speaks for itself, and good for them and their accomplishments, regardless of how they chose to dress. And recognize that it also puts them in a position where they can get away with things that many others can not.