In this excerpt, a character reflects on their high status, suggesting that they are so far above others that the idea of being "knocked down a peg" is irrelevant. This speaks to their confidence and self-assuredness, as they don’t see any threat to their position. The phrase serves to highlight their accomplishments and the distance they perceive from those beneath them.

The other character's reaction, expressing surprise at this novel way of viewing status, indicates a level of admiration or amusement. It showcases how unique perspectives on social hierarchies can lead to engaging conversations, emphasizing the protagonist's proud and charismatic traits.