AP has in the past done a good job of reaching out to new, different, younger, and more diverse audiences with their watches becoming popular with rap stars a decade ago.
This is important because the market for mechanical watches will otherwise dwindle eventually with a new generation that doesn't wear mechanical watches.
A person who sees Jay-Z wear an expensive AP may someday buy another brand or even a more entry-level AP. It opens doors.
AP has in no way cheapened its craftsmanship with this Black Panther watch, there is a lot of handwork here.
Certainly, appealing to black people (to name things directly), to a pop image which symbolizes black liberation and the imagined idea of an advanced nation in Africa free from the horrors of racist colonialism, is off-putting to some. But, this is not a flaw on the part of AP, rather it lies with its detractors entirely. I say this not as an attack on those who find the watch tacky (as I do as well), but rather as an appeal to consider our implicit biases--examining these is always healthy. And we may well conclude that the watch fails on other, unrelated criteria.
I personally do not like this watch, and most AP is not for me. However, this is an important step for AP to reclaim a place in popular media, to renew its audience, and it does not take away from its more classically styled pieces at all, but merely helps ensure a future market for them.
This watch isn't for me, but that doesn't make it bad.
Just my take.