I came into collecting modest watches around 2010. There was certainly a renewed interest in mechanical watches at the time, a lot of it being driven by things like MaleFashionAdvice on Reddit. I believe MFA had a significant hand in rescuing Seiko from obscurity with the SNK809 and SKX007. Old Seiko mechanical chronographs like the 6139 could be had readily for less than a thousand dollars. I had a beautifully restored one I bought and sold for around $300. The same watch is worth at least three times that today.
At that time, it was still possible to acquire steel Rolexes at "modest" prices. As a goal to celebrate my (future) career achievements, I set my sights on a birth year Submariner - which were attainable at the $3,500+ price points at that time.
You can't really buy a Submariner for less than $10k today. As mentioned in the article, Rolex dealers and others play crazy games where stainless models are virtually unobtanium. Even trickle down brands (Tudor, for example) have ridden the wave. I can no longer afford, nor do I want to afford, a birth year submariner. To me, the beauty in those watches is that they are tools; they were built to serve a purpose.
I ended up lucking into a Tudor Pelagos Left Hand Drive. The ultimate tool watch - light titanium, great lume, etc. I wear it. I wear it hard. It's been with me for dozens of life momentous events. When the watch craze passes, I hope I can pass it down to my kiddo as a reminder of my existence.