"Status"

Today in class we addressed the subject of status when it comes to who determines what is art and where it should be placed. But who determines how these people acquire the status that they have received? Dickie calls the art world one of formality and uses words such as social institution, this only makes sense though considering that people of status are the only ones who choose the art that view, listen to or read. But once again I ask the question who chooses those people and do you think that this "status" description that Dickie talks of plays a negative role on the art world?