Really? Aren't town cars nicer inside than regular cabs? Limousines tend more in the direction of conspicuous consumption, though I imagine they are also generally more comfortable/clean than less-expensive options. Limos are also not that expensive for some use cases: we once had to get 8 people from NYC to MD, and it turned out that renting a limo was cheaper than us all taking the train or renting a vehicle.
Likely that is a factor, but people communicate social status and identity in so many different ways, which often appear meaningless or even absurd to people outside their perceived peer group, that I think it would be a mistake to discount the idea. (I recall one person I used to know who certainly did have opinions about the kinds of cars she would and would not prefer to be seen arriving in, regardless of who was driving or who owned the vehicle.)
> generally more comfortable/clean than less-expensive options
Some limos have poor or blocked views of the outside which can trigger motion sickness. I also wonder about their side impact protection and how much testing that gets.