You should get one if you want and not if you don't. In today's world, when there's an Internet connected computer or a phone everywhere in sight, and you can usually find out what time it is by saying "Alexa, what time is it?", a watch is an affectation in the first place - given that it's already something you don't have to have, anything at all you spend on it is unnecessary, so you can spend as little - or as much - on a watch as you feel like.
I happen to like fountain pens as well as watches. a $20 pen is nicer than a $2 pen. A $50 pen is nicer than a $20 pen. There comes diminishing returns, however - a $120 pen is nicer than a $50 pen, but a $200 pen isn't especially nicer than a $120 pen. Yeah, they make $600,000 pens. They're very pretty. You can't get one with that kind of decoration for $100,000. However, the $600,000 pen doesn't write notably better than the $200 pen.
No luxury watch is going to keep more accurate time than a $20 Casio. The reason to spend more than $20 isn't because you need it, but because you want it.
Life isn't all about being utilitarian, or we'd have nothing to live for, we'd have no soul.