It's funny how all the people who can't afford a high-end watch, always judge people who can as douchebags
I love watches! The mechanics, the craftsmanship, the quality and the way they tell a lot about a person.
Some like cars, others like boats or guns..whatever floats your boat.
But only a fool would deny the quality of a truly upper end watch.
I can tell the time on my phone 
The time on phone comment was a joke... made clear by time on microwave addon.
Thing is, the difference between bling and luxury. If you are Arnold and have a watch collection, it is throwaway money. If you have 10k in the bank and rent cars and have mortgages but also a Rolex it screams "I want to look like I have money".
I know 2 billionaires, and a lot of multi multi millionaires. I also know people with no money who drive cars they can't afford and buy designer clothes and spend a tonne on presents.
It is about priorities. I appreciate a fine watch or car like anyone else.