a video game startup may claim to not have any dress code like those boring stuffy banks, but anybody wearing a suit will be sneered at anyway.

On the other hand, someone who consistently dresses as a distinguished gentleman can do so in a jeans-and-T-shirt culture, if he actually is a distinguished gentleman. When the richest dudes around wear Crocs and bike shorts, it's just another way of expressing personality.

That said, the situation for women's clothing seems to be substantially more fraught, especially for engineers.

(And I expect it is different again in the game industry, which seems to have its own sort of presumptuousness.)