I'd like to believe that most rich people aren't stupid with their money. If they were, they wouldn't be rich for long.
For $10,000, there are a lot of better watches out there, if that's the fashion statement someone is trying to make.
I don't like the Apple Watch Edition and I'm a luxury watch collector.
That being said, "better watches out there"? A watch is a jewel, a jewel is basically the conjunction of subjective attributes. Better at what? I don't think you can label something like a watch as "better than" other. Just can be more prestigious, have a more timeless design in your culture, more perceived quality, but apart from that, which are again subjective attributes, you can't say any other thing.
Is a PP Nautilus chronograph better than a Casio F91W? Why?