I wouldn't think that was it.
Crucially in there, he's worried about the cool men purposely (as opposed to accidentally) flouting the rules of black tie in order to stand out. Not that I've been to tons of black tie events, but it's been my experience that the men going with the equivalent of the "sparkly shirt" he mentions are trying so hard to be cool, that they are definitely not cool. That is, in my opinion, significantly different than those that simply don't know the rules and so break them by mistake. I have infinitely more time for the latter than the former, but that's just me.