Art? Hm, I'll go with craft.
You are right, technological progress in the mechanical watch arena came to a screeching halt about 50 years ago, with the advent of the quartz watch. Before that however it was a fierce arms race of technological innovations, to achieve ever higher accuracy, more complications, better power reserves, and whatnot.
If 50 years old counts as timeless, well, so be it.
There are still a few notable innovations by some mechanical watch makers, such as power reserves of a month or more. So there is still something to behold. And some of those innovative watches even have class and style
Image
What you said is all true but still traditional watchmaking, a lot of which is done by hand in the case of high end watch making (Patek, Lange, etc), that is the almost exact opposite of manufacturing computers (iPhone and apple watch are both computers) that Apple makes.