re: "signaling" - a big rack of shiny new mcintosh with $10k+ speakers poorly placed might be an example on the 'i'm really rich' side of audio. but if there's anything i've learned online, one can 'signal' their smartness, their coolness, their pride, or whatever it is they're interested in conveying in any number of different ways. for example, one can signal their audio 'wisdom' by buying all of the best measuring gear, regardless of how it sounds.
as for 'lording it over' people, there are certainly some snobs out there. but those guys are mostly irrelevant. i'm sure their systems sound great or whatever, but literally no one with a life of their own cares how much you spent on your hi fi - we're too busy listening to music (and maybe plotting out upgrades) on our own. same goes for 'i know everything about audio because i'm an engineer' types. like, ok man, good for you. sure, yeah, whatever, i'm very impressed with your credentials. but i'm on my own path. you don't need to worry about what i'm doing. we don't even like the same music, why should i care what you think? etc etc