Music is cheaper than it's ever been for the consumer and segregation between genres or bands is non-existent on music streaming.
It's hard to socially signal when everyone can afford to stream and the search bar can show you Sabrina Carpenter just as easily as RYM or /mu/core.
However , you can socially signal if you spend money on an iPod, DAP, better headphones, physical media etc.
who am I socially signaling to if I have physical media in my basement? my wife?
I do think this take is lukewarm.
I know someone in my group who moved from Apple Music to Spotify because everyone else was using Spotify and she didn't wanna feel left out.
I also can't really share playlists with them, which is fine since I only listen to the same 1,700 tracks from the 90s or early 2000s anyway.