He's a little apologetic and hesitant ...
... but his points are valid and understandable. His first comment related to the difficulty of replacing a stainless steel Rolex in the current environment is less persuasive, at least to me. If we're honest with ourselves, however, many of us can relate to his other concerns. I live in an urban area with extreme socio-economic diversity (e.g., great wealth next to a significant homeless population) where a Rolex can attract attention and add to the risk of loss or even injury (despite my cat-like Bruce Lee reflexes and martial arts skills ;-)
I respect those who don't worry about these things and proudly wear their Rolex or other fine watch everyday and everywhere, but I think those with a different view are equally worthy of respect. Some of us live in safer cities or areas than others. Some of us work for ourselves, others, or not at all. Some of us don't worry about scratches and dings and see them as signs of a life well lived; others prefer to keep their watches relatively unmarked. As with most other things in life, there's room for different points of view and no 'right answer' for all.