"The Swiss sell watches for 3 times the price of the aformentioned top-of-the-range iPhone"
And that phone will be handed down to the next generation. Swiss automatic movement means it'll probably still be working (as long as the mechanism has had movement). I can't see the same for an electronics device with 5-6 years of obsolescence in mind (battery life and limit on number of charges, software update slow down etc).
I have a few proper watches and I love them - they are still working away. I also have a smartwatch which I know only has ~2000 charges in it before the non-changable battery will give up holding charge.