I just personally think suited and booted is very dated and not reflective of society in general today. For example, I've worked at the same City of London based company for nearly 20 years (a few office moves, name changes, mergers and demergers along the way, but still the same company). When I started it was strictly suit, **** and tie, a few years later the tie requirement was dropped. Then around 10 years ago it became smart casual, so no jeans or trainers but chinos and a smart shirt or polo was fine. Two years ago it changed to you can wear want you want, anything goes unless it is deemed to be offensive or likely to cause offence, for me that is shirt, jeans and trainers, or even shorts in Summer. Lots of other City based companies have gone the same way.
Refereeing hasn't changed one bit, and that's why I say it isn't reflective of society as a whole.