The monkstraps is one of the most unique shoes in existence today. It's reverence is drawn from the fact that it stands between formality and informality. It is simply what you go for when you're not certain of what to wear and still look modern and classy.
A gentleman's wardrobe is not complete without a suit in it. Getting a suit from a shop or tailor is one thing, looking classy in it is altogether a different thing and that is why a lot of people fail to get it right.