Signaling allyship has undoubtedly had its usefulness over time, specifically in pointing out which members of the oppressive social group can be trusted by members of the oppressed group. So calling oneself an ally could be such signaling.
Aligning oneself with a moral or ethical ideal, even before perfecting one’s embodiment of it, is useful. So calling oneself an ally could be an indicator of such a commitment.
Such a commitment or signal should be a marker of sacrifice - signalling usually endangers the member of the oppressing class and commiting to giving of oneself for the sake of others is just that.
But I also agree - to take on a label of moral commitment is also food for the personal ego, and this is amplified in the era of social media in which people seek to perfect their social representation in a pathological way. The classic moral answer to this dillema has been to perfect one’s actions while renouncing the fruit of those actions.
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