I actually apply this logic in reverse. After seeing how lacking many "senior" developers are - given that we now call you "senior" after just 5 measly years - I've come to realize I shouldn't put much weight in the skills of lawyers (and other professionals) who only have 5 years of experience. Since we're not lawyers (for example), it's easy for us to give them more credit than they deserve, because we don't know enough about the domain to criticize them.
After just a couple of years experience, developers can still write pathetic spaghetti code. If you're gonna high a lawyer with a couple of years under their belt, imagine them bungling your case like it's the codebase!
I guess what I'm trying to say titles are fairly arbitrary - and yes, the system is in need of a little shake up! Enjoy the perks the title brings, and stay humble :)