Until I saw this thread I'd never heard of a "Walt' and couldn't even find out what one was by doing an online search. After half a dozen posts on this thread I started to work out what it means.
I wouldn't for a second think that the CW watch in the OP is in any way 'Walt' related. It's a watch that's celebrating a particular 'brand'. No different in my opinion to a Citizen 'Red Arrows' watch or even a watch with the 'RNLI' on the dial (although with the latter the profits might be going to the RNLI charity)
I must admit that I do find it a little odd that some people collect watches that are only available to military personnel initially but that's their choice and the military don't do themselves any favours by selling on their old watches to the general public when a new version is released. If it's important to someone that only certain personnel wear certain items then why not keep them? Occasionally there are extenuating circumstances such as being destitute but the majority of the time these items are sold on by people with a solid financial base.
I do also find it interesting that some members of the military (not all) have a problem with others wearing certain military clothing. Medals are a different matter and directly impersonating a member of the military at a military event is obviously a common sense no-no but something like a tie I don't have any issues with at all. I find it strange that people would have no problem with someone dressing up as a member of the fire service even to the extent of being strippers yet wearing a military watch or tie is somehow a major problem.
curiously, a relative of mine that I have a lot of respect for was awarded multiple medals in WWII yet I never saw him wear them once in my lifetime (he'd left the service by the time I was born). Make of that what you will.