Yes Seiko has in some ways lost it's status as the king of value in the past couple years, their bracelets suck, their movements are meh, their move upmarket has been detested by enthusiasts.
But my counter argument is that Seiko was traditionally underpriced and they are just becoming confident enough to price their watches like the Swiss (Hamilton/Longines/Tissot). There's still plenty of value to be found in entry level Seikos, they are not crazy value like just a few years ago (e.g. SARB), but I still love my Seikos.
*I know people are gonna bring up citizen, but I've just not been drawn to citizen design and don't feel they are fun/daring to my eyes.