I found it embarrassing. I find this kind of cynicism and empty nostalgia cringeworthy (which isn't to say I consider myself immune to it). I think he doesn't acknowledge the nerds, probably because they represent a tiny fraction of the market. Yes, half of Porsche drivers don't know if the engine is in the front or the back, but a small percentage could describe the engine in minute detail.
I doubt anyone on the LFGSS watch thread is buying IWCs, Rolexes, Omegas, Seikos or whatever because they're high net worth individuals with money to fritter away. I bet these watches give some of us a headache financial. HNWIs probably don't even know what Hodinkee is.
I'm under no illusions about the role of marketing in the watch industry. Anyone who thinks you're paying only for the thing itself is daft. Clearly you're funding all this fucking nonsense and this IWC 'Selling Dreams' ruffle-shirted twat.