Status is social.

There are things you prefer. Positive things like "I like ice cream" and negative things like "I hope that strong guy will not kill me". This is the individual level.

But there are social aspects, such as "people like this thing, so even if I personally do not like it, it is useful to trade", or "people are afraid of this guy, so even if I personally do not care about him, if I make him angry, I will make a lot of additional enemies". When people perceive each others' perceptions, on a social level the perceptions become 1-place words: "this is nice" (they say, although I personally do not like it), "this is respected" (generally, although I personally do not respect it), etc.

But even this was just an explanation on a game-theoretical level. This is how a paperclip maximizer trying to trade with humans would perceive the situation. "I will collect these golden coins, althouth they are meaningless, because I can trade them with humans for paperclip-making tools. I will respect human gods, because otherwise humans will get angry and will destroy many paperclips to punish me." As a social species we have instincts for this. We feel the status (that is: our heuristics evaluate it quickly and provide us the result). For some people this instinct works better, for other people it works worse. In some situations, the heuristics fail.