To be fair I do think it depends on your definition of a “nice watch”. If that means only Omega, Rolex, IWC etc then yes, they have reached the point where I wouldn’t buy one. That being said there are still plenty of nice watches out there at the 1-3K price bracket. Nobody is forcing you to pay 11K for a watch so someone can price something at whatever they wish.
Perhaps there is an element of greed in the buyer here as well as the seller. If the buyer is demanding watch brand X because he says so then do you blame the seller for putting any price they like on it?