I guess it would depend on the social convention of this era. I think the suit and tie is still the accepted form of attire for formal events such as the prom. I think fashion still operates on the old paradigm of social acceptance as enforcement of expected behavior, and the participants would likely not desire to be the social pariah at this formal event by dressing too far out of the expected norm.

To think that the cravat was once used as a protective devise for expensive shirts (like a bib) and now we are vigilant lest the cravat is dirtied. How the world changes.