The difference is, whilst a Rolex is reasonably affordable, the Edition is clearly out of the price range of most people - so wearing something like this will be so obvious.
However, I would love to see some companies coming up with custom Apple watches. Not to make them look more expensive, just to make them look different. For the first time, I might actually buy a customised Apple product if it weren't too expensive (maybe a wooden Apple watch case might look nice, for example.) We'll definitely see this with custom bands (really looking forward to that) but it'd be cool to see new watch bodies too.
As an aside, whilst I understand (and mostly approve of) the reasoning behind Edition, it's a shame that the only gold Apple watch is so expensive. I wish that Apple had created a gold coloured watch in addition to the solid gold Edition - similar to how many watch companies produce the same watch in stainless steel and white gold or platinum. Or how watch companies sometimes put a diamond on the back of the watch but none on the front.