The expectations game is played by pretty much every single product on the market, but it's only working if the product image is something you choose to care about. Most people do choose to care about it simply because it serves as a reasonable filter and this combined with social proof can reduce the problem of choice with minimum effort. People choose a certain "class" they want to represent and they just go along with whatever is on the menu for it.
But it's also important to notice that, while we all might be doing it to varying degrees, this does not necessarily apply to everything you do. If you can live with the stigma of forceful association to these classes, you can make decisions purely on the personal merits of a product, though that doesn't mean it's always worth the effort.
I live in one of the wine-themed states of Germany, close to France. A significant amount of our agriculture is wine, mostly from small family-based winemakers (oh the cliché). Everybody drinks a lot of wine, and there is an insane amount of variants to choose from. I know what I like when I taste it, but I know this applies to my personal taste only. Like the article says, it's not really possible to tell how expensive a wine is by tasting it. But that doesn't mean it all tastes the same. Wines are hugely diverse and everyone would be well-advised to just decide based on personal preference. However, high-profile wines are often designed to offend the least number of people, so they're an easy choice to serve when you're hosting a dinner - as a common denominator they do have a purpose.