Not only is the high price considered a positive as per your link, but Veblen specifically used university culture to explain his concept of conspicuous consump

Not only is the high price considered a positive as per your link, but Veblen specifically used university culture to explain his concept of conspicuous consumption. So much of university professor culture has nothing to do with learning and everything to do with appearing high class, but without the money. Robes, fancy eating spots, stone everywhere ... it's all about appearing upper class.