The people you're trying to impress often only get a quick preview into your life. You only get first impressions, and no opportunity to explain why your phone has nicks in it. (Think: business meetings.)

The people spend enough time around you to know that your phone, while looking a little beaten, is actually very reliable -- they don't care what kind of phone you have.

I think the film Parasite portrays the nuances of this kind of status quite well. (Even though the film is slightly comedic, I don't think the portrayal of status is exaggerated in the film.)