Is Wearing A Watch Now A Status Symbol?

I rarely wear a watch anymore my phone tells me the time, have a watch my wife bought me that I wear on special occasions. It seems now days if it isnt an Apple watch ( not for telling time ) its a very expensive watch. I have a friend who showed me his new Tag Heuer watch was excited wanted one but was very expensive when they took 10% off he got one now he likes showing it off not telling time.