> displays of talent and respectable deeds,
Without the external metric of how much money you make, these will be unquantifiable and subject to political manipulation. Even the definitions of what's talent and respectable can be altered to favor the politically more powerful people. Groups without a clear measure of status find arbitrary ways to define it. Look at how school kids or prisoners do it, for instance. It's nothing like what you'd love to see.
Ask how many of your neighbours can name three Supreme Court justices (or hell, their senators and representative) versus who can name three Khardashian sisters?
TBH, I'd hope for the end of "broad" social status. I'd love to see a retreat towards smaller circles where status is earned through displays of talent and respectable deeds, not just by dominating/manufacturing/buying a media presence.