Nope. Pick stitching has shown up in all sorts of garbage suits. It's like working buttonholes. At one point, it may have only been seen on nicer suits... But then people latched onto it as a false indicator of quality--"oooh, only nice suits have working buttonholes/pick stitching!"--at which point every manufacturer started adding them. Means absolutely nothing now.
Absolutely! Although I'll take the working cuff buttons as a plus. Not that they serve any real purpose. But I have always hated the 'falseness' of cuff buttons sewn over non working buttonhole stitching. Even before I knew anything about the difference. It just looks 'fake' to me.