I don't have a Rolex. In fact, I actually had to look to discover that it's a Tissot. It's been on my wrist for getting on for thirty years, and I have no doubt at all that it will go on 'til the end of my life without any problems. If, when I die, one of my heirs decides they want it, it will go on 'til the end of their lives, too. It needs a new battery once every three years or so, and it needs the date reset at the end of every month with fewer than thirty-one days, and, err, that's it. It tells the time. It just works. And I don't have to think about it.
If I amortised it over the time years I've had it already, it's cost me about £15 a year; if I amortise it over the time it's likely to be useful, that drops to about £4 a year. By contrast, a 'smart' watch - any smart watch, I'm not making a dig at Apple - will be obsolete in three years, so that's about £100 for each year you own it, or £2 a week. And I'd have to take it off every night to charge it, or if I forgot it would run out of battery just when I needed it most.
A reasonable quality mechanical watch is a very long way from obsolete; and, despite their price, they are very, very inexpensive to own, because you're only ever going to need one.