This stuck with me: Years ago, someone on Reddit described their middle school in the ‘70s having to have an assembly to stop a potlatch/arms race between kids stacking Izod/Lacoste shirts. There were well-off kids wearing three or more stacked Lacoste shirts every day, and poorer kids wearing cheap generic polo shirts under real alligator shirts to try to keep up.
I may have an outdated sense of what a potlatch was. I was using the term in the sense of destroying value, per this kind of definition:
“A potlatch involves giving away or destroying wealth or valuable items in order to demonstrate a leader’s wealth and power. “