Itd scare the fish alright!
Id love to think that the person wearing that rollie is "quite aware that its a piece of high kitsch, camp, bling, whatever", but I rather suspect that most, if not all don't - and that they actually think they look good/make them look wealthy.
As for "who cares?", well "cares" might be a bit strong a word - fun to discuss though.
Im fairly sure that the OP posted with the intention of getting a few replies. Why bother otherwise?