You get to wear certain colors when you achieve Master Belt.
Also: who cares about tc? I've played like 33,000 games of toribash, and if I ever reach god belt in 17,000 more games you literally get NOTHING for it. There's not a color you can wear that no one else gets, and anyone can make their custom belt "GOD" anyways. That's the problem that needs to be fixed. Not inflation of the economy over belts.
Besides, you're not in it for the TC if you've played 15,000 games or whatever.