As we can't really ascertain why they are put out in the first place. And I am referring to the integrity aspect of it... if they really did put it out to commemorate something or if it's really more to hoodwink the gullible. Very difficult to pass judgement.
Whenever I see an LE, I always ask myself if it's a nice watch in the first place and if the LE story is something that was meant for me. Nine times out of ten, it's really intended for some niche... as to what that niche is, I wouldn't know. Here in Manila, JLC came out with a Philippine edition Squadra. But I don't like Squadras. If there was an edition made for a simple Grand Taille, and if the price was "reasonable", I'd probably buy it, regardless of the number in production.
And I see people also buying Independents partly for the reason of exclusivity. Which I then pose the question, if they were mass produced and was more affordable, would it lose it's shine. I don't mind having #1,000,000 of an Observatoire if it was priced like a Rolex.
If God mass produced Monica Bellucci, would people like that situation less? Hehehe. I sure wouldn't mind having "a" Bellucci (not meant to be a sexist remark, btw).
Problem is, the watches themselves may not really be a Monica Bellucci in the first place.
Come to think of it, a Rolex is in itself a limited edition here at work. It's too expensive for the average person to buy. But if I go to a Rolex GTG, you'd think you were in some corner street where people sell replicas.
It probably becomes an un-LE when you're in a room with all the other guys who have the same LE