A gentleman's watch collection, like his car collection, should encompass different varieties of watch, suitable for different occasions.
One wouldn't drive a Ferrari to the supermarket, would one? One would take, perhaps, a G Wagon or M5. In the same way, one wouldn't countenance wearing an IWC Portofino to the beach. That would be madness. One would choose an Omega Seamaster, perhaps.
I suspect that the bulking iup happened when watchmakers began to chase the emergence of money amongst vulgarians. The Yanqui 100 years ago, then the Arab, then the Russians and the Chinese. These people, who like to holiday in Dubai, are interested only in show, not quality.