Everyone is entitled to their own watch wearing and collecting preferences.
But as for causes of certain past events, I’ll quote two people who would know.
First is Nicolas G. Hayek Sr.: “Most people who analyze the destruction of the Swiss watch industry in the 1970s emphasize price and technology. They point to the arrival of hundreds of millions of cheap quartz watches from Japan and Hong Kong and our decision to ignore quartz, a technology we invented. But we had huge problems beyond technology. There were problems of strategy, structure, management.” https://hbr.org/1993/03/message-and-muscle-an-interview-with-swatch-titan-nicolas-hayek (this interview just 10 years after the collapse of SSIH and ASUAG)
And Stephen Foskett, writing in Europa Star at length, “Debunking the quartz crisis”
“Folklore would have it that the Swiss watch industry was shaken by the onslaught of cheap quartz watches, many from Japan. They have heard that this “quartz crisis” derailed the entire industry in the 1970s and nearly ended watch manufacturing in Switzerland. But this tale is highly inaccurate.”
https://www.europastar.com/the-watch-files/archives-heritage/1004093671-debunking-the-quartz-crisis.html (July 2022)