Same reason anyone wears any other type of jewelry. Unless its an Apple watch, they are super convenient.
The game changed once Ferrari went public. They have to make more cars to sell and please shareholders. Hence all the new models... only VIP.... challenge drivers, XX program clients, or big buyers are going to get limited And valuable stuff. Soon every “entry level Ferrari will be “available”... good for car guys...no more game playing. Bad if you bought thinking car was going to hold value.
oddly enough i gave my apple watch away to my dad. I didn't like how it looked and felt annoyed always worrying about yet another device to keep charged. Traditional watches look great and apart from a wedding ring it's really the only jewelry a man can wear.