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hvass comments on Be Happier - Less Wrong
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The term "conspicuous consumption" is commonly applied to displays of (financial) wealth; the recommendation to avoid conspicuous consumption does not imply that you should avoid all forms of conspicuous superiority. I'm not sure that fitness-as-status is so closely analogous to wealth-as-status.
For heterosexual men, one reason to exhibit conspicuous consumption is the dating game. :-) And for everyone else, I think the Halo Effect is quite a good reason as well especially for clothes. But focus on experiences of course, just don't go into a complete extreme.