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I think you're making a storm in a teacup. The hat doesn't influence anything, it's just a status symbol. If you lose it the next day, you can win it back.
The hat in itself doesn't matter at all, I'm not saying that. What matters is how much time you have it because that's a measure of activity that is erased. That's the status, not the hat in itself. Besides that, it's not the sole point of my argument, nor the most important. My argument is that the same way the hat is defined, the ranking is defined, which I consider detrimental in the way I described.