What you're describing is how the watch market bifurcated after quartz watches came out. Mechanical watches were previously utilitarian devices, made to be as thin as possible and sold at a premium because they were the most accurate timekeeping devices that could be possibly made at that size. If you had a large watch, it meant it was cheap. After quartz watches came out, mechanical watches could no longer compete on size, accuracy, or features, so they took their current role of being personal accessories for men, a sort of socially acceptable jewelry. They got larger and flashier because the point of the watch became personal expression (or social signalling at the high end) rather than simply telling the time.