To be fair, you're disconnected from economic reality if you think dropping $10k on a watch today isn't a big financial move.
Additionally, money can only move one just a little bit higher in social hierarchy. Those influencers influence young minds to consume more and more stuff, get money from the brands they are advertising, spend on expensive things - which are produced and sold by rich people. Direction of flow is always the same, rich gets richer, poor stays poor, so called "no-name kids" continue driving people to consume (mostly) useless things.
I wish the men around me didn't choose cars for how much noise they make, I live on a somewhat busy street.
I used to be harder to find people in to a specific sub-culture but now it is easy to find a subeditor or whatever. They just feed off each other until they are insufferable.
Beer, mechanical keyboards, watches, whatever.
Also, anybody can get a credit card and build a credit limit relatively quickly that will buy (though not pay for) multiple Rolexes.
there is more niche affinity to certain brands and aesthetics that are seen as far more coveted than rolex, from the people that matter. as in, there are absolutely some circles of people that will lend you respect for the curated taste and often have access to resources reserved for people that prove it with these material things, whereas rolex will be a neutral to negative signal.
no different than wearing a suit in a professional setting, to one thats fitted, or cufflinks, there are just levels to it that continue with accessories.
aside from that, one benefit is that thieves typically don't recognize other brands. they recognize rolexes and a couple others though.