My friend does not work in the watch industry so maybe that's why she came to the opposite conclusion from yours. She has several high-end watches Omega, Ebel, Cartier ... and when she got the Apple Watch almost 10 years ago, it instantly demoted all her expensive jewelry watches to the drawer.
The cheaper "disposable" Apple Watch instantly cured her from wanting any new expensive jewelry watches. She let the batteries die off in the old watches and has never replaced them. Instead, she just loves having the weather, timers, task notifications, etc on her Apple Watch. Sure, the classic watches have "diamond encrusted bezel, gold wristband, Swiss mechanical movement yada yada yada..." but all that is negated by the useful features of the smart watch.
It's a rare situation where a cheap product completely replaces an expensive product.
I had a a similar evolution in thinking when technology made me re-evaluate products I once coveted. When I was young before the internet existed, I drooled over this Geochron illuminated framed wall map $4000 : https://www.geochron.com/clocks/boardroom/
A lot of expensive offices had that and I thought I had to have it too. But then I bought cheap atomic clocks you never had to set and the web had dynamic maps I could explore. Even the new Geochron units don't automatically set to the radio signal from atomic clocks. New technology completely cured me of wanting to buy a Geochron. People used to want tall grandfather clocks in the house foyer as an elegant piece of accent furniture. Now you can't even give away those clocks for free on craigslist. Everybody has clocks on their smartphones so buying a grandfather clock for the house isn't a priority anymore. Even if we romanticize grandfather clocks with descriptions about "heirloom furniture craftsmanship, intricate wood carvings, etc", it still won't entice most people today to want one.