I agree to some extent, certain Rolex and Omega models have gone silly, but there’s still value to be found if you look for it. Second-hand TAG and Zenith are better value, and parts availability is far better. Looking at vintage watches, there are still plenty of reasonably-priced Omegas out there too. Vintage Longines and Tissot can be had for modest money considering the quality they offer.
Gold vintage watches are still good value too, especially 9ct.