The difference between cameras and watches is you can carry a smartphone and a DSLR. Unless you're going to start wearing two watches, you'll be giving up all the utility of a smartwatch for your wealth-indicator, which yes many people will be happy to do now, but that market can only shrink as the high-end smartwatch market grows.
I know several people that own $10K+ watches, and a larger group who own $1K+ watches None of them own only one super expensive watch... and a lot of them carry like three or four in a bag for different situations.
