You're saying that, as a financial decision, spending $2.75M isn't necessarily stupid because $2.75M is peanuts to some people.
I agree, though it depends on their goals. If they want to make more money, it's obviously a poor decision. If they want to look like a vain, wealthy, frivolous person, then it's a great decision.
My comment was from the angle of whether I think someone who would spend $2.75M on a watch is A) cool, B) a good person, or C) a good decision maker.
Related to all of those aspects, I consider "looking like a rich person" to be an incredibly sad, ridiculous goal, especially when $2.75M could be used for such interesting, useful things (both selfish and unselfish).
And, of course, it's not 100% relative because goods/services cost absolute amounts of money. Fifty dollars is equivalent to, let's say, 10 hamburgers, and $2.75M is equivalent to 550,000 hamburgers.
Put that into any other unit you want to (charitable donations, vacations, houses, massages, political contributions, art, etc.). The point is that throwing away $2.75M on something frivolous is far different from throwing away $50, no matter how much money you make.