A very lovely Apple watch indeed, and one I would be proud to own seeing I don't own an Apple watch now. I love yellow gold watches, especially with intricate designs like this, and the craftsmanship is excellent. People calling it ugly are probably millennials hooked on Apple's minimalistic designs, but great watches of old were similarly design in terms of gold and intricate detail, especially old pocket watches.
But just as Dan said in the video though, I would not be willing to pay that price for a customize Apple watch which will be outdated in a year or two. That's really the crux of the matter. But that's also partly why I've never considered buying a rather pricey Apple watch (even their cheapest model is pricey in my book) -- because you cannot upgrade it and it will soon be out of date. Traditional watches don't have that problem, which is why it will always make more sense to pay top dollar for them.