Yes, I've been down that slippery slope... nearly ended in divorce on a few purchases! Can't even mention the word "watch".... tread very carefully my friend 😂
To be honest all watches are overpriced. Let's face it a $50 Casio is more accurate and durable than anything on the market. Unfortunately, humanities appetite for materialism has driven our individual desires. Is that a good thing? I believe so, it's the cornerstone of our fundamental freedoms.
In summary, you shouldn't judge anyone's choices. Have your own beliefs on what you perceive is value and what's necessary. Simply enjoy the hobby and the thousands of choices.
I've been on the obsessed watch journey for nearly 5x years and have accumulated close to 50+ watches. Know I'm in a heavy consolidation to just three (Beater/Sports, Every Day & Dress). Life's priorities have changed for me personally and thus my value perception.
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