No. It's not a status symbol.
It's a necessity when you have DC ranging from pre-teen to newborn twins and you need to fit all of them, plus you and DH, plus a double buggy with lie flat bassinets, plus whatever bags the older ones are taking out with them, plus any shopping you've bought that day, and all other crap into one car without squashing everyone's faces up against the window.
(Here come the martyrs to insist 9 kids, 3 dogs and MIL all fit in a mini, yawn/predictable)
I like range rovers. Because I like them. We have one that's got to be sold because bloody darling twins mean we can't all fit. I will miss it. It's a great car. I love the gadgets, the comfort of driving it while heavily pregnant, the ride quality. And it's nothing to do with status.
The SUV we're replacing it with is the only thing that fits our logistics. Believe me, we've taken everything we like on a test drive to the buggy store to physically put all the car seats plus a double bassinet pram in, and the vehicles you think "well of course it's all going to fit" well, put simply they don't at all. We don't even want the damn thing we've got to get. We need it.
So, to repeat. Whilst a minority of people might need a variety of things to attempt a feeling of status, a watch, a handbag, a car, there are the rest of us who make purchases based on what works for our lives.