Thanks for posting, sonya, you always choose provocative and interesting articles.
I have to say I think half of this one is ridiculous. If an Hermes Birkin bag (which is possibly the most highly publicized bag in magazines, ever) is an article of "stealth wealth" I clearly have no idea what the term means. There's nothing more flashy than carrying a $10K bag. I don't believe anyone has to be "in the fashion know" to recognize a Birkin.
I'm not a logo maniac and the only purses I do own with logos on them are Chanel bags. When a logo is simply for the sake of a logo and not part of a design aesthetic, that's when it seems problematic. This is why I have a gorgeous pair of cap-toe slingbacks with the Chanel CC on the toe that I never wear.
That being said, the real draw of "stealth wealth" which I think they gleaned over in this article is that truly subtle and luxurious clothing items are made from sumptuous materials: double-faced cashmere, heavy satin linings, shearling, etc. I don't think it's necessarily about wearing obscure labels only "religious fashion followers" would recognize, as the article surmises. The Yale professor who said that it's still showing off, just in a different way to a different crowd is only half-way on the money, in my opinion... luxury, especially when it lacks a logo, is often for its own sake rather than an attempt to garnish admiration from others.