There's a weird self fulfilling prophecy aspect to it. People mock it, people notice it, but also have decided "this is what these pictures look like," and they conform when the occasion arises.
When we went public and the first wave of new c levels rolled in and cheeseball chat avatars started to show up in our ecosystem we mocked them. None of us even used real photos at the time except HR. They spread though. People still make fun, people who have them make fun, but it's a thing you do when you're Business. Humans are funny creatures.
the addition to the real estate pose is to make absolutely sure your Rolex is high up on your wrist, and the arm is prominently crossed in front, with the sleeve slightly pulled back to accentuate the watch.