Maybe quite a few do look scruffy, and don't much care, but personally I'd prefer that to the other extreme as described to me by an Italian boyfriend of a dd.
He said that in Italy, and particularly in the workplace, you are judged by your clothes, and especially by what they cost. He said they will size up the brand/cost of every single item you have on, down to your tie and your belt, and if they're e.g. their equivalent of M&S, not designer, your name is mud.
I said surely he must be exaggerating, and he said no, not at all.
This was later confirmed by a relatively young Italian colleague of dh.