This works very well if you're not a Chad and being hunted as beta bucks. Even if you're hunting for a unicorn, you at least want one who isn't interested in your money, so this still works. There's no reason not to do this, if you're confident in who you are and can let go of the societal need to play status games with people and impress them. It's true monk mode.

Come up with a mediocre way of explaining your job. One friend who started a medical device company that does something with saline. He says he sells salt. Another guy runs the top website in his industry and also sells wall charts to school districts. He introduces himself as a poster salesman. Even if they were eyeballing him before, that's it. They're no longer interested.