In my opinion people should wear whatever they want to wear (within the limits of good taste). We shouldn't judge people by what they wear, or by how much money they have or don't have.
"For if there should come into your assembly a man with gold rings, in fine apparel, and there should also come in a poor man in filthy clothes, and you pay attention to the one wearing the fine clothes and say to him, 'You sit here in a good place,' and say to the poor man, 'You stand there,' or, 'Sit here at my footstool,' have you not shown partiality among yourselves, and become judges with evil thoughts?" James 2:2-4
James doesn't say anything about how they should dress, but how they should treat one another.