Can spirituality substitute for materialism as a way to gain status? Would it matter?

One common way of trying to gain status is the accumulation and display of stuff. The subtext of stuff says that the stuff owner is important and powerful—to the degree that their stuff supports.

Yet another way of trying to gain status is to raise social capital. Social capital arises from the number of and strength of connections with other people. It comes from the capabilities a person has as well as their ability to employ those capabilities to help a business or community. Education, networks, and other resources help build social capital because they all enhance a person’s ability to get stuff done.

Arguably, another form of social capital comes from being a “spiritual” leader or follower or practicer. People who reject materialism say they aren’t going to play by the rules any more. They are going to drop out of the rat race. They say they don’t care about status and materialism doesn’t mean anything. So they turn their lives to something else.

Or do they? Is spirituality just another way to raise social capital? Is it a way to gain status? Or is it somehow outside the system of human dynamics?

In either case, what is (or would be) the significance of pursuing spirituality instead of materialism? How would it affect an individual’s place in society?