I agree with you about Rat Look, to me it's just a style thing, but I confess I have a degree of sympathy with the 'Oily Rag' approach. To me that's about focusing all one's efforts on the mechanical side of the car, leaving attention to the cosmetic aspects in second place.
When I was a young biker we spent all our money on making our bikes go faster, handle better, or stop quicker. Anything else was seen as a just a pose. "Chrome don't get you home" and all that. I guess that attitude has remained with me.