No, because when I asked why we should dress like royalty, the only answer is that we are children of Hashem and should dress the part.
Well, how do children of Hashem dress? Did any chazal ever say that children of Hashem dress like royalty? I think not.
And do you really think we should dress like royalty? No, you don’t think so. You think we should wear your arbitrary dress code, which admittedly is more refined than ordinary dress, but is not even close to royalty.
Don’t make the torah into your source that you call upon whenever you want to justify what you want to do. Just do what the torah says to do.