Complaining that the watch isn't "worth" something when it comes to fashion... not sure that jives exactly.
A Kia works exactly the same at driving, so therefore with your logic, it's worth exactly the same.
High-end watches are extraordinarily complex machines, and yes, generally have a "luxury" look which may be un-necessary in your eyes. Though, the market for "incognito" luxury movements within cheap watches is way too small to be sustainable.
What do you mean by that? In what way are they better at measuring time?
That isn't generally true.
Here's an analog quartz chronograph that has 1/10 second dial: https://youtu.be/mPP3EeWdJsA?t=97
If you are talking about a sweep second hand, there are plenty of quartz movements that do that.
If you go for digital quartz, you can get 1/100 second accuracy in a $10 watch.
The longer you time something, the worse the mechanical watch is going to be. Most of them gain or lose several seconds every day.
Zenith is the only manufacturer that I know does significantly better than this, but that particular movement is pretty rare and extraordinarily expensive.
Plus, nobody is buying a $50,000 Patek because it solves the problem of showing what time it is. It's about appreciation of artistry and craftsmanship and letting other people know that you are the kind of person to wear a Patek.