I would have no big issue with these rappers or anybody else "showing off" their money or success, if obtained by honest means (in the sense that, right or wrong that this may be, it would remain their choice)... But what I found ridiculous here is that they don't even realize the only thing they end up showing off is a complete lack of taste -- not to mention the urge to destroy some beautiful Pateks!
Honestly, I would have an even worse impression should an investment banker be spotted wearing any of those Frankensteins, given the higher level of education/sophistication that I generally expect from the banker ;-) Cheers.