In 2024, I have a hard time believing that anyone thinks that having a cell phone shows how important they are. I don't like the behavior, but I think the main problem is that we are biologically wired to talk to people who are in the same locale as we are. For example, if I am in a noisy bar and you are in your quiet office, I will project for you to hear me even though it isn't necessary. On my Airpods, I often put both pods in my ear to listen to the caller more immersively, and I naturally modulate my voice lower.
I was once on a train to Toronto, and there was a Canadian federal prosecutor on it speaking way too loudly. I tapped him on the shoulder and politely said "defense attorney alert." If you could have seen the look. I didn't bother to tell him that I practiced in a different country and didn't handle the kind of case he was blabbing about.