I think there are relatively few who really know what they are looking at with the wide variety of high end parts whether they have a bling factor or not. I'm not a big fan of bling for the sake of being noticed myself. I buy components for their functional reliability and performance for the price therefore my bikes tend to have an odd mix of components not necessarily packaged together in bike showrooms. I know I'm talking to a knowledgeable person when they notice this but I could care less about bling for bling's sake and fortunately, I have not seen much of that.
I do know a few status seekers who will buy the best of everything and seem to concentrate on "the look" only to put very few miles on their equipment. I even went on a camping / MTB trip with a guy who was quite apprehensive about going for a ride because he had just cleaned his bike. If my MTB isn't dirty, it's because it is March and I just finished getting it out of the shed after storage for the winter.