Yes, they can tell the time but there are better ways of knowing the time nowadays. Especially if you care about accuracy, a smartwatch connected to a smartphone connected to an atomic clock is more accurate than your Rolex.
So what's the point of jewelry? Fashion, and signaling your wealth mostly.
> So what's the point of jewelry? Fashion, and signaling your wealth mostly.
That's a sweeping generalization, pun intended... I guess "expensive" is relative but I own a few four-figure watches and appreciate them for their aesthetic and the engineering that went into creating them. Being able to tell the time mechanically without cellular service or an Electron app is a welcome reprieve in today's world. I suppose my Casio F-91W is more accurate but it's also much less whimsical and doesn't really feel like "my" watch the way that my Damasko does. Ditto for the Rolex that I inherited from my Grandpa - the German watch that's worth 15% (but still 50 times the cost of the Casio, i.e. "luxury") and has zero brand recognition gets worn way more often because it's my jam.
My next purchase will likely be a Seamaster Professional not because I want to signal that I can afford a $4000 watch but because I like the aesthetics and the movement. Obnoxious Rolex bros are certainly a thing (I see them in public fairly regularly) but that doesn't mean that everybody that enjoys nice watches does so for the sake of conspicuous consumption :-).