I have always felt that the gen world is largely about bragging rights... sometimes silent bragging, but bragging al the same. A few watches and a few people I can believe really merit a lot of value in their function and appreciation of said fnciton. But most of thje haters I suspect hate becasue they bought luxury watches to join an exclusive club... only aftger paying their entrance fee they look out the window and see next door some schmoe who paid a $5 cover to get into a bar with almost the same quality chairs drinks and food... they feel ripped off but admitting it means admitting they were willing to pay for prestige, not value of product.
Since it's a hard thing to admit to yourself you are shallow, it's far easier to hate on otehrs for making you feel that way and realize you are the one making you feel that way.