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I think another element is the "jewelry" aspect to it, which ties in with the emotion part. I personally view an Apple Watch as a device, a means for me (solely for working out: to track workouts, listen to music, be able to leave my phone in my gym locker).
On the other hand I view my Rolex watches as part of my style as I always have one on my wrist, and jewelry has been a part of one's style for a long, long time. I wince when I say a Rolex watch is a piece of jewelry, but it is something like a piece of art for me on my wrist and definitely a component of my style. It's not necessarily a means to tell the time as I am on my phone or computer for most of the day, but it tells me a story and reminds me of fond memories as a companion. Longevity is another aspect as an Apple Watch will be outdated in a year where you can see Rolex watches 40+ years old still being bought, sold, and enjoyed.
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