Absolutely, it’s a linguistic/cultural capital if you will. It exists within the language as well, think of the phrases used in urban centers vs. rural areas. Sometimes we mistake this as slang (and sometimes it is), but literal definition of the words is not enough in order to understand. I think that’s what I’ve found fascinating, is that a person who has actually learned the textbook version of the language to a very high level can still be lost in conversation.