It is, but most people are at least slightly narcissistic. Most people get at least a little bit of validation & happiness from obtaining a "better" job title. Also, it's not really just the plain title itself, but the trust the company has in you that it represents. Being able to say to somebody, "I'm VP of ____" gives you some cachet in today's middle/upper-middle class.

Sure, there are also people who couldn't care less what their title is, but I can't help but feel that most people would find the possibility of a 'better' title at least moderately motivating.