We generally create our own "status" fields. Also the idea of one status is something of a misnomer. We find that 2, 3 or more "status" fields are necessary, along with a status log field for each so that you can track what happened.
If you use "clip status" and the status changes a few times and in different ways, it's very hard to troubleshoot. By using a status for each move or action you can track an asset through your workflow.
The side effect is that you can control how and where the "status" is used.
The built in Clip Status field is commonly used by the Worker and so your data can get replaced without you realizing it.