I think in some ways programmers have brought this low status upon ourselves. If you want to be taken seriously in a business setting, like it or not how you dress affects your credibility. When a coder complains that the executives at the company are not taking their ideas seriously, maybe they should switch out of the t-shirt that says "talk nerdy to me" on the front. Dressing professionally isn't just about corporate conformity, it also signals that you take your job seriously.