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in my mind, answer is brand value. It's hard to sell a luxury watch without a desirable brand name -- hence why these companies pour so much money into marketing
Re. production number of 20K, is that really a sign of exclusivity? VC watches tend to struggle in the secondary and gray market relative to PP watches. If VC tripled production to match that of PP, they'd do even worse because there'd be no market for the new production
Rolex sells a million watches per year at $5000+ because they can, and the reason they can is because there's a lot of demand for the brand. similarly, PP can sell 50K+ watches annually at high prices because their brand also has big demand
note that I'm not commenting on history/quality/finishing at all. All I'm saying is that while the brands can choose their own quality & price points, the market will dictate how much product they can sell and whether that product will hold its value
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