I wear an analog watch; I've never spent over $200 on a watch, despite being a bit picky (I insist on a day-of-week feature).

Seiko doesn't seem to make the movement in my watch anymore (5M83), but the equivalent automatic-winding mechanical watch can be had for under $200 still.

Casio and Citizen sell analog watches for under $100.

Sure. Also the Chinese watch brands offer good mechanical watches for even under $100, or for not much more (steeldive for example, or pagani), I'm aware.

But there are also a lot of watches that are more expensive, way more expensive than the pebble. Plus the typical price for the smartwatches, I just checked the Samsung galaxy watch, over 300€. The pebble looks fine there.