I certainly agree that the issue of accuracy as embodied in a quartz watch is very limiting if it is the only element to be considered in a discussion of luxury--and I certainly wouldn't argue in favor of doing that. My curiosity is that something like the opposite has occurred: the quest for perfection in accuracy has been largely excluded from the definition of perfection in watches.
There is, by the way, a fancy, diamond and leather encrusted high-tech item out there which, albeit not a watch, is close to my "rose gold encased quartz watch" in principle: the Vertu cell phone, which costs quite a few thousand dollars. Personally, I think that's a pretty silly product, but apparently it sells.
-Rip