Rabbenu Yona explains one of the significant reasons of honoring Torah scholars is that its puts them on a pedestal which creates an atmosphere in which the people revere and respect their words. Rav Mattisyahu Solomon says it's possible for a Jewish child raised in a Jewish home to be in the category of a "An infant captured [and consequently raised] among gentiles". If the parents don't give over a clear respect for the Rabbis then it limits the children's ability to withstand the trials of life since they need to view the Halacha given over by the decisors as ironclad and an unbreakable force.

Shaarei Teshuva 3:147

כי יש בכבוד החכמים והישרים תועלות גדולות. וכבוד הכסילים והרשעים מכשולים רבים ועצומים כי [בהתהדר] החכמים ובתתם עליונים. דבריהם נשמעים. וילוו עליהם העם כלו וידמו למו עצתם.

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