No ... there are too many senior officers in too many HQs with too little useful, productive work to do.
If you want less silliness you have to have enough slightly too much useful work to occupy the time, minds and hands of the smart, drive, Type A officers we have. When, as now, we have too many of them, relative to the useful work available, then we get cheap, plastic 1812 pins and new/old badges.
Exactly. Like WW1 pins, the reintroduction of the Puttee (Cadpat though) to commemorate WW1, Battle Honours for the Punic Wars (I think the RNFLD regiment qualifies) and a return to musket drill (PAM update eta is April 2016).
Who would wear them: everyone is a Cpl soon enough and you don't wear them up and down. In the Battledress days, after two years we wore a very small chevron, but I don't think it was in the Dress Regs, just a carry over from somewhere. More of a years service chevron than a LSC.