It's not that. I wear a watch for functionality, not as a jewelry piece. My requirements on functionality are pretty strict, and I don't see expensive watches that fit the bill. Or at least I don't see expensive watches that fit the bill better than watches in the $200 range.

Also, I'm not the type to repair a watch and get to know my favorite jeweler. I prefer to replace. If a $200 watch lasts for 3+ years of workouts, snowboarding, and swimming, then I got my money's worth.