This is true, but I don't think comparing a Rolex to an Apple Watch is a good comparison. If you bought a new Rolex today, the functions would be the same as they were 23 years ago and it would hold its value, whereas the Apple watch is continuously changing and people NEED to get the new tech every few years.
I know. I was just being snarky.
Like you said, an Apple Watch is not a Rolex. It isn't even a watch in the traditional sense. It's a computer that you wear on your wrist, and like all other computers, you can expect it to become outdated pretty quickly.