Technically, a $200 mass produced Casio watch has more function and actually tells time better. And I think that is where many people are getting confused because to them it means "better".

The point of this watch is, that it is the first of its kind, that it is in limited supply, and that it speaks to a tribe or people.  This is very much like artwork. Many of the people complaining about how much art costs are right, you can get a poster from Walmart of a Picasso, and it might even be laminated with plastic so technically, it will keep the true color of the Picasso's vision longer than the original, but the original handmade painting will always be worth way more because of its limited supply and that it speaks to a certain tribe of people.

Expensive and limited edition handmade watches are just the same as collectible rare coins whose value far exceeds the metal in them. The same with baseball cards or clothing from Supreme. I've also been lucky with other watch purchases in that my watch collection has actually gone up in value, not down since the day I bought it. I'm sure this piece will too because Bitcoin will just keep on getting better and better and in the long run be so much more popular and expensive.