What a load of rubbish. Of course there are plenty of rich folk who can easily afford $10K on a watch, plane tickets, car etc. That doesn't mean they will automatically shell out for an Apple Watch.

Tech is different from fashion. Apple makes a tech tool, announces that it does x, y, z that everyone needs it because it solves a, b, c and Apple will be quite correct in their advertisements. However Apple can make a fashion item and annouce that it is cool, luxurious, classy, the 'it' watch and so on and be completely wrong in their pronouncements. A product doesn't become a luxury item ipso facto because Apple says so. Apple doesn't have the cultural cachet of Hermes or Patek yet. Right now the Apple Watch looks like a basic ugly item for the novuea riche. There's no guarantee that rich people will buy one instead of another Rolex