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From a financial rather than an identity perspective, Chesterfield's move makes a certain sort of sense.
The importance of status in markets: A market identity perspective [Electronic version].
The political scientists Shanto Iyengar, Gaurav Sood, and Yphtach Lelkes examined this issue in a 2012 paper called "Affect, Not Ideology: A Social Identity Perspective on Polarization".
So it depends on what you choose to focus on – looking from an identity perspective it's as a very different story.
"The Importance of Status in Markets: A Market Identity Perspective" by Michael Jensen, Bo Kyung Kim et al. [Excerpt] The importance of status in markets is well established.
It suggests that the values of many Americans have drifted from those I always thought were central to our identity — perspective on the world we live in, compassion for others and their viewpoints, actions based on integrity and strong character.
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J. Citrin, A. Lerman, M. Murakami, and K. Pearson, "Testing Huntington: Is Hispanic Immigration a Threat to American National Identity," Perspectives in Politics, Vol. 5, No.3, March 2007.
This multi-identity perspective can be seen as "... structured and hierarchical, with each individual able to enact as many identities as there are social groups with which they identify" (Burton 2004: 367).
The paper outlines the framework for community-oriented teaching on which the courses were based, and presents strategies for including, and thus legitimizing, a greater variety of identities, perspectives, and knowledge in the classroom and the curriculum.
An identity threat perspective on intervention.
"This is serious from an identity theft perspective.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com