Is the movement. The original was built around a record setting movement which was 40% thinner than the current calibre 2455. Doesn’t make either a better watch, but the significance of being original and innovative grants the first version a status that its homage cannot attain. I think this distinction is more apparent the closer a reissue attempts to follow the original. The 1921, OTOH, doesn’t invite similar comparisons in my mind and indeed demonstrates its own uniqueness.
I too am attracted to thin watches and, informally at least, they were considered a complication in their own right. But not all thin movement designs were as successful as the 1003 and 1120. It was carried to extremes with the VC calibres 1160/1170 and reliability suffered; the movements were so fragile that any attempt to service would cause damage so it was simply replaced. The maiden Overseas calibre 1310 was also too flexy and created warranty and service headaches (don't ask me how I know, still a painful memory) until superseded by 1311 with a slightly thicker mainplate.