Maybe, but I doubt people buy a $500 watch just because it will still be nice in 100 years. That might be the case for $10000 watches.
It might have minor scratches but that's it.
A smart watch will probably not even power on 5 years from purchase (due to bad battery); or be able to pair with your phone (new phone OS might not be backwards compatible).
And chances are that's just the glass face, which takes minutes (and a few bucks) to replace.
The body may have some minor scratches, but I think it only adds to the charm.
They're generally intended to last a lifetime, however long that is, and possibly be left to heirs.