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How poor people think of how billionaires think. Why Frisco has more homeless than 3rd world Jakarta.
I don't care for the dress habits of today's billionaires, and wouldn't imitate people just because they're wealthy. That said, I skimmed the AoM article and agreed with some of the points in there: neckties are becoming less common in offices, it does signal a degree of professionalism for some environments, and there will probably always be a niche market of clothing enthusiasts who buy them.
I still think 90% of a tailored outfit revolves around the cut and styling of the coat. Not even the shirt, trousers, or shoes. When done well, those things take a backseat to the coat (meaning, they're not loud and draw attention to themselves). I mostly care about the coat and am not that bothered by the disappearance of the necktie.