I think that once you pull the Alembic out of the case, expectations are raised. Truth be told most folks can't afford an Alembic or other high end instrument (those that aren't in demand pros, anyway). The only reason I can is the fact that I have no children and am fortunate enough to have the disposable income available to support the Wickersham family business. When you take an Alembic out of the case, the look and quality alone impresses. Most folks I've run into automatically assume I must be a good player (I consider myself a fair player, but of course, I've heard guys with technical skills that make me sound like all of my fingers are taped together) because I have such an expensive bass. I guess it goes with anything expensive, e.g., one must be doing well if one can afford a Corvette, Mercedes, etc. It's not necessarily true, but there's the perception.
I haven't scared anyone with my Alembic (with the possible exception of my Spyder - singers are oddly terrified that I might skewer them or something with the V shaped headstock). I have scared them with my looks. I guess if I had to choose, I'd rather have it be my looks than my bass. I can always put a paper bag on my head ...
I've never been told to put my Alembic away by anyone anytime I've used them, so I don't think it's so much fear as intimidation because of the mine's better than yours mentality some folks have. As has been noted, I've heard guys play cheap basses that sound phenomenal, and others play the nicest Fodera you've ever seen sound like a total catastrophe. It's in the fingers, heart and head. A quality instrument helps, but there's no substitute for ability and feel.
My two cents,
Alan