I don't think this is really a fair assessment. Watches have always been a luxury good and a fashion statement, despite also varying in quality and price. Quart

I don't think this is really a fair assessment. Watches have always been a luxury good and a fashion statement, despite also varying in quality and price. Quartz watches are still a relatively recent development: before then, watches were the realm of highly skilled craftsmen. I don't think anyone shops for watches based on the accuracy of the timekeeping: shoppers expect that all watch brands keep time roughly equally, and make purchases based on branding and design.