Historically, timber pannelling has been the prestigous finish of choice for a lot longer than plaster.
has it though? tudor palaces for instance used tapestries to hide the walls, Roman villas used painted wall plaster as did most of that med and its sphere of influence….
Most of history has been using what you have to hand to build with. Be it mud, wood, stone,flint etc.
Just for some god forsaken reason this country is obsessed by recreating georgian boxes. rather than trying to use modern materials to achieve the best results.
Also to mention currently refurbing my late victorian house, the idea of use of colour is striking! modern tends to be white, Romans made lots of use of vivid colours, Victorians made use of dark greens and reds. Fashion applies to everything.