I got a Casio watch because it was cheap. People buy cheap watches because they're poor. There are far more poor people than there are rich people, so there'll be far more cheap watch wearers than there are expensive watch wearers. So cheap watches are ubiquitous. Is that really a surprise?
I know several people who are far from poor and wear this watch.
There are also exceptions to every rule, so it's no surprise that some rich people wear it too.