No in my opinion it's not biblical. Look at the bible, the apostles didn't adorn themselves with riches, or give themselves fancy titles & own fancy bridled horses. What's our example? Seems to me Jesus had no place to lay His head and one cloak. The early church was not rich or decked out like the Romans.
Btw, I attended one of those churches with one of those self-named "Bishops" everybody in the place went nuts when he was introduced, they stood up and clapped and cheered. I stood but I did not clap or cheer and I marveled at the people around me.
Since when do you clap & cheer for your Pastor on Sunday entering to preach the word of God? We give glory to God. The Pastors in my church are great guys , ordinary husbands , fathers , who love the Lord & fear God, they are overseers & and caretakers of the flock. We clap & rejoice together for the Lord, our Pastors in my church are like us, but who have studied to show themselves approved in preaching the word of God, they are not celebrities. We are an inclusive little church family. I think the small community churches are more to my liking.