Most well-known "luxury" brands are. Real rich person's brands won't even bother selling to the poor. There's currently a meltdown among the middle class because Hermes is laughing them out of the store. It's quite funny.
Just to be clear - Hermes is also a fucking waste of money that serves no purpose other than to signal your membership in a club that has no value to society.
Yeah because luxury doesnt mean quality, pretty sure I could get a custom leather coat from some Amish dude out by Salmon Idaho thatd blow away any luxury leather.
Have you never been to a high-end store where the retail workers just act sorta superior to you because they sell expensive things you can't afford (but at the same time make multiple times less than you because they're retail workers and you're not)? It's that kinda thing. It's weird af.
Seriously. Past a certain level of wealth, you don't even need to buy brand-named items for most everyday things. You don't buy a suit from an expensive brand. You hire a world-class master tailor to custom make you a suit from scratch. It's fit exactly to your body, made to your exact tastes and specifications. The same thing should be possible with watches. You don't buy an expensive brand, you hire a watch maker to make you an entirely custom piece.
I'd imagine that's pretty rare with watches. I'd guess if they aren't just wearing an apple or Samsung watch, they're wearing something like a Parmegiani.