Earlier quoted context omitted.
It wouldn't stop me from joining a company that's clearly better than the rest. But engineers have a lot of comparably good options in hub cities, so it's reasonable to be picky about small stuff - we can afford to be. A formal dress code does have real downsides: it (1) costs money, (2) wastes closet space (it's a premium in NYC!), and (3) makes biking to work or otherwise living a pre-/post-work active life more of…
The mistake you're making is that "work clothing" needs to be separate from your "after work clothing". NYC there is no excuse for not finding good and reasonably priced tailors. You might get dirty looks from those who look worse than you, but suits do in fact make the man.
Different cultures, different perceptions. Tech culture as a whole does not share the NYC mentality that suits are a reasonable norm. Dress codes just don't jive with a need for authenticity. Give me the weird guy wearing a kilt over the slick sales guy in a suit any day.