I don't understand why some men would choose to replace the most important piece of jewelry a man can wear —a precision mechanical wristwatch— by something that looks like a cheap toy.
And than there are people who don't care about statement pieces and just want to wear whatever is most practical. And people who want to express themselves by wearing a smartwatch.
These are mostly considered to be low-status symbols. For men, in fact it is often recommended not to wear necklaces to a job interview, and hide any tattoos.
The watch basically says: I had a good job that paid well.