[wolframhempel]

Exactly. This watch was the Bored Ape NFT profile picture of its time. It shows you're rich and you're with / ahead of the current times. And in comparison to a bored ape, it cost less, could be taken to parties and other in-person social functions and you could even sneakily follow sports events during boring meetings.

[masswerk]

I think, it's important to note that consumer goods in the 1980s were very much culture building (in the sense of terms like "nation building"). They allowed consumers to express themselves, to align themselves along a certain set of values, to show off, to organize in recognizable cultural tribes, they provided identity, etc. In a sense, 1980s tech was what the FB profile became to the internet generation. (I personally enjoy this cultural aspect.)