You have essentially the same attitude as the banker on ten million a year who doesn't understand why there are people who have to catch the bus to work.
I disagree. My company is an engineering firm that provides tools to other engineering firms. As such, when I visit customers, I am frequently going into engineering workplaces. The number who require suits/formal attire is vanishingly small. So I think that squizzar is correct in his (her?) attitude: no one in a tech role really has to put up with a formal dress code if they do not want to. There are plenty of jobs for engineers, at least in the USA, even in this economy, and an employer who puts a dress code up as a barrier to employment is more likely to find themselves without top-tier talent than the top-tier talent is likely to find themselves without a job. So it really is the employer who needs to change their attitude.