Among watch fans, I guess Seiko either has a certain caché or, in some cases, a cult following. But I'm not fussed about the brand name on my watches; things like their design and quality feel matter more to me. Hence I'd be equally happy with an Orient, Citizen or Seiko.

However, I am convinced that one element of Seiko's brand equity has been its high bang-for-buck. At many price points, Seiko used to offer a lot of watch for the money. And it's this part of Seiko's brand that I wonder if it's diminishing? In contrast, my impression of Citizen (and Orient) is that their bang-for-buck is now comparatively higher. If Seiko watches becomes increasingly 'Veblen goods', then this difference could increase.