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Blue and black suits are considered power suits the same way a red tie is considered powerful. You can have pin stripes on your suit or a pattern on your tie just don't get to crazy with it. In the corporate setting you want to come across as a professional, this means someone who is assertive and confident. A blue suit, white shirt and red tie would represent all of this. Obnoxious patterns and really bright colors can come across as unprofessional. If you have two guys standing side by side in a corporate setting, one in a blue suit red tie and the other in a blue suit with a monstrosity of a tie, the one with the red tie will come across as the authority figure.
Its all a representation of your personality. An obnoxious suit or tie can be perceived as someone who may not be as focused and concise. Opposed to the more boring as you said suit, it may be boring but it comes across as someone who is serious about their career. It doesn't matter if the perception is wrong or right. Its all about first impressions.
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