Yes. If you mandate excellence, if you raise the bar, everyone who reaches that bar has a prestigious title. I'm not just a mechanic; I try to always call myself an automotive service technician. It sounds a little better. An automotive service technician could be held in the same regard as a low-level engineer, because that is essentially what we do.
This could be true for a lot of the trades, but the regulations need to go a little further. The regulations say that any Joe on the street can go out and buy the parts to go and fix his car at the same prices available to certain garages.
I say this for cars, but it could be for anything. Last night I was installing lighting at my mother's house. I'm not an electrician. Do I know how to do that? Yes, but in my doing that, am I taking away the prestige of an electrician? In a way, I am.