Honestly, we all know the boxes are useless. They're stored in a closet, away from sight, never to be seen or used again. And this is coming from a person who pays great emphasis on packaging and presentation. In many ways, minimalism is probably better for everyone, but then it gets boring and in the world of one-up-manship, every firm wants to have a decent box.
I think honestly, that the boxes watches are presented in today are superfluous and unnecessary. In fact, I think that the emphasis on the box is really just a "box war" between brands since no brand wants to have a box that is severely lacking compared to another brand.
From an appreciation perspective, I personally appreciate woodwork, and I especially like lacquered wood boxes, humidors, etc. The wood box used by Patek Philippe is considered to be high quality upon a superficial glance. But upon closer inspection, the woodwork is not particularly fanciful, there is no use of veneers of especially fine wood, and the boxes are mass-produced in Thailand, not artisanal pieces. Then there are boxes from Audemars Piguet, Blancpain, and Breguet where the boxes truly are magnificent and traditionally made. And then there are watch boxes such as those for the Montblanc Villeret that is of (presumably) rosewood in a unique oval design.
Haven't really seen a watch box that I really loved for a long time. The last time I saw a box that I really loved was a pen box that came with a Montblanc Skeletonized pen made by Kurt Schaffo in 1999. To date, that is the most elaborate Montblanc pen box I've ever seen.