Blue checkmarks were absolutely treated as status symbols by many people, even if it was "mistaken" to consider them as such. While I do lament the loss of identity verification (hugely imperfect as the prior blue checkmark program was) I do see the abolishment of the status symbol as a sociological win that platform.

The whole drama over blue checks was like a live action remake of Dr. Seuss's The Sneetches.

Pretty much. And just as entertaining.