I confess. I'm one of them. My hand luggage does, indeed, have the black AA EXP tag on it. Once I actually got off the plane and made it to my hotel before remembering that I had a carry-on at all. Granted, it's only happened once, but I was very glad that I had tagged the bag.
I don't view the tags as indicators of status entitling the holders to DYKWIA status. Rather, I view them as accessories designed and provided by the airlines to make travel easier for their frequent (read most revenue producing) passengers. And, yes, airlines, like companies in most other industries, want to be extra nice to their best customers and make them feel special, for those to whom these cards indicate superiority.
I have absolutely no problem with BA Golds displaying their cards and feeling that they're better than I am. Plenty of people feel that way, actually, -- doesn't affect me at all. I'm almost always in the front cabin when I'm on BA. If some other pax needs to feel superior to me, whatever. Basically, I keep to myself and don't notice.