I don't think they look cheap at all.
Just because so many cheap watches copy Rolex designs speaks volumes for their value. I think it's the other way around, their are alot of cheap watches that look expensive. That's exactly why they copy Rolex.
I mean if you take a gold nugget that just happened to be shaped like dog shit and put it out on the lawn with 50 pieces of real dog shit that had been painted gold, does the real gold look cheap?
BTW I have never owned a Rolex and probably never will but I'm happy with my dog shit.