As an energy being, Little Zi spent a great deal of time analyzing what exactly this so-called Divine Status was after obtaining it, but so far, had only a vague idea. However, Little Zi's understanding was pretty much the same as Long Yi's—they both saw Divine Status as something akin to identity proof. With it, you could gain Divine Power, and it would slowly and steadily accumulate more Divine Power for you.
Beyond that, the Divine Status didn't have many other uses.
Of course, Divine Status had a natural hierarchical suppression effect on certain life forms; some beings couldn't even refuse any commands in the presence of Divine Status. However, Long Yi hadn't encountered such a situation. After he obtained his Divine Status, he couldn't influence anyone at all. Perhaps this was a special skill only gods or Divine Envoys had? And once the Divine Status changed hands, the show was over.