.....we just cannot know why some people like a specific type of watch, or not. You suggest that "bigger and shinier" is commensurate with wanting to display wealth. It may be. or it may not be. Maybe someone who likes bigger and shinier has no interest at all in what others think? Maybe the owner of such a watch just happens to like that style. Unless we, ourselves, are in the mind of the owner, we cannot really know what motivates the decision.
Further, you suggest if someone wants "elegant" then it should be in proportion to the wrist size. I would disagree simply because one person's concept of elegant can and will be different to another person's concept. Stating as some sort of fact that elegant must conform to some preset vision of proportionality just doesn't work as a universal truth because we all differ in how we make subjective judgments.