But I can't get similar for £3 which was the point, a £3 watch does not work as well as a £100 watch. It's nonsense, there are reasons why a watch costs £100 even without diving, temp or barometer features. They are not the same thing.
I would say you could get a similar watch. It mightn't look as nice or last as long but it will work just as well.
Leaving any features or gadgets aside for a second, I (and probably the majority of the world's population) want a watch primarily to tell me what time it is. My basic £10 digital Casio does that much just as well as a Rolex.
My Grandfather repaired clocks and watches for a living, my uncle is a time-served watchmaker, I grew up surrounded by clocks and watches, have quite a few old clocks and watches lying around (mostly working) have dabbled in clock repair myself on many occasions, I can and do appreciate a fine clockwork movement and the skill and engineering that went in to making it. I can and do appreciate the superior quality cases and straps on expensive watches. I am not saying that a cheap watch is as good in terms of quality or will last as long as an expensive watch, but it still does what I want - i.e. tell me the time.
It is true that there was a time when cheap watches were inaccurate and unreliable but quartz movements have meant that that is no longer the case. A cheap watch carries out it's most basic function just as well as a £100 watch nowadays. If you want and can afford to pay and get enjoyment from owning a better watch that looks better and has a gold case or whatever, that is fine by me, it's what choice and free market is all about. I could afford a better watch but choose not to as my cheap watch tells the time just as well and I don't need to worry about breaking or losing the thing as it's easily replaceable.