Why do you think your argument contradicts the claim that it is about social status?
Diamonds are a sign of social status in large part because De Beers marketing has convinced them (and their friends) that it is a sign of social status.
The connection between diamonds and social status in this case is supporting evidence for the assertion that "advertising works".
Diamonds are a sign of social status in large part because De Beers marketing has convinced them (and their friends) that it is a sign of social status.
The connection between diamonds and social status in this case is supporting evidence for the assertion that "advertising works".