In the mind of the masses, wrist watches are no longer "must haves".
Too many alternatives, quartz and digital have brought the price to a point of a Bic lighter, with just as much attachment.
However...
Among those that value a mechanical watch for the wearable art that it is, there is no slowdown.
Many fine brands, wonderful features and adornments, precious and exotic materials.
I bought a Rolex Sub Date in 1982, first of the sapphire/fast movement models. Still have it and it looks as good as the day I bought it. I've tried my level best to beat the snot out of it and so far I have had limited success. Each time I get the upper hand, a trip to the service center makes it new again.
Currently I own 2 Rolex, 3 Seiko's. The watch I am wearing right now is the Seiko 6105, for those that know 'em. Direct competitor to the Rolex Sub in its day.
A quality watch is the only jewelery a man can wear discreetly. Rings and chains, an earring perhaps (not for me), but a fine watch on your wrist makes a statement.
Some like cars, guns, fishing equipment, etc., but a watch is universal. Most men and women that appreciate fine things have one - or more.
Fine watches will always have a home.