"so much formality, so many people in suits, surrounded by the resources to do anything they like, from the most polished presentations to flying around the globe. It’s also the sense of self-importance here, the “highest authority of God on earth” feeling that pervades the gathering.

Clothes make a difference:  if all the men (and they were largely men) had decided to dress casually and comfortably would their behavior have been the same?  Why does one dress differently for a gathering of co-workers at a picnic?  These men often seem to have been born in suits and with ties--when have the ever been pictured differently?

This may seem a minor point but is a well known psychological principle:  dress does have an affect on our actions.