For me, Rolex is for showing off, plain and simple.
They have made exceptional watches but technology wise they are nothing special. Just look at a 6263 Daytona, it's a fine watch but no (technical) feature justifies its premium compared to a Speedmaster, JLC, Heuer etc.
Rolex is one of the most recognizable brands in the world, everyone knows its expensive, everyone know it's an accomplishment to own one. Primarily it's not only about its durability (which is impressive), its craftsmanship (marvelous) but also about prestige. Everyone will know you spend a lot of money (whatever that is) on what you're wearing on your wrist once you're sporting a coronet. Try showing off a Patek, no one will care, no one will notice.
Rolex does make great watches, but rarely anyone owns one for that fact.