Petition to get a Dark Souls-like messaging system where you can only combine pre-determined words from a glossary to form your statuses in place of the status bar.
And even then we'd just get constant spam of "Giant but hole ahead".
Now, if you want my actual two cents on the topic, broadly speaking, no. Now, in the grand scheme of all things RPG, the status bar is pretty easy to ignore, and i'd even go as far as to say that the majority of people who even engage on RPG probably never make status updates, or only do so so irregularly to say that they might as well not exist. And i'd argue that the biggest point in favor of the status bar as it stands is that it doesn't really cause harm to anyone. Usually, the most you get on the status bar on a day-to-day basis are either personal updates or just shitpost wars. Which, sure, can be annoying, but aren't really harmful. I can't in good faith make the argument that just because there's a convenient way to use a communication tool to shitpost means that it hurts the community overall. Even if it's not really used for its intended purpose as it stands, the status bar also doesn't hurt anyone - nobody is slandered, scammed, or name-called, and those few arguments that do come around on it are usually resolved fairly quickly with or without the intervention of a mod. Even most trolls on the sidebar really isn't much more than just people in the internet engaging in some fairly jokey banter between one another.
So, sure. There is an argument to be made that the status bar isn't quite used all that efficiently as it could be for the purpose of advertising or discussing RPs on the site...but I don't see its current status being something that actively detracts from RPG's experience. Everything considered, it's easy to opt in and out of, and any reflection of the content on it in many cases seems to be more telling of RPG's userbase in general rather than any condemnation of it as a concept.