I feel like you're saying something like,"That expensive painting is inferior in every way to wallpaper, which covers the wall more effectively and durably, at a fraction of the cost."
The Rolex (or luxury watches in general) are pieces of jewellery that also tell the time. The more expensive ones have some combination of
-more expensive materials
-better finishing
-superior craftsmanship (including more intricate complications)
The goal is not just to tell the time, it's to wear a piece of artistic craftsmanship. (Though I would agree that other brands are a better example than Rolex, and some people do indeed just buy expensive watches in general and Rolex in particular just to flex. As some do with art.)
The Rolex (or luxury watches in general) are pieces of jewellery that also tell the time. The more expensive ones have some combination of -more expensive materials -better finishing -superior craftsmanship (including more intricate complications)
The goal is not just to tell the time, it's to wear a piece of artistic craftsmanship. (Though I would agree that other brands are a better example than Rolex, and some people do indeed just buy expensive watches in general and Rolex in particular just to flex. As some do with art.)