Yes it is totally illogical and quite frankly stupid. It is however, nice to have a technically intricate item on your wrist.
What is even dafter is that the good ones such as Patek and Rolex appreciate in value.
This is a nice forum about watches but it attracts some really argumentative types who would fight to the death over a sheet of toilet paper. Thus one has to wonder if the entire concept of mechanical watch is totally barmy in its entirety.