ok. to clarify...
with lesser people wearing watches now to tell time, has appreciation and knowledge of watches decreased? perhaps, perhaps not.
all of us had to start our watch appreciation journey somewhere, with some having the benefit of position & people around them or even their own research & reading to start them off at a higher (though not necessarily better) footing. (some obnoxious wealthy only buy based on price, resulting in vulgar pieces that are abominations, just to out-peacock each other. they are the same noobs who don't have a clue where the engines of their porsches are located).
but the majority remain clueless, lack the knowledge or just couldn't be bothered about the finer points of mechanical watches like watch nerds/nuts/aficionados/connoisseurs/etc.
those that are starting out are limited by knowledge and are invariably swayed by popular opinion & advertising. which leads them to watches like rolex day-date in yellow gold w/diamonds, tag-heuer, iwc, etc which, in watch connoisseurs' eyes, are not the epitome of horology the ads try to sell you.
true watch connoisseurs, imo, are not into luxury for luxury's sake, but appreciate the value for money aspects of watches especially the ability of a watchmaker to make their own inhouse movements.
that's why brands like seiko, orient are given the nod, even thought they're cheap & affordable because they're honest and don't overcharge you for merely dropping a ready made eta ebache into a case, slap on a swiss made label and charge you a (relatively hefty) sum that does not justify.
likewise luxury brands give value for money for the unique & innovative mechanical design, value add, finesse and prestige they bring to their watches.
but alas, not so for the middle rung brands i'm afraid, but w/ certain iconic watches like omega speedmaster professional moon watch & icons-in-the-making like tudor black bay & tudor pelagos among others being the exception.