my vote goes for statement piece and here is why
when watches appeared, they were primarily utilitarian accessories to read time. Today, you can read the time on the phone, on the wall clocks, on board the car, anywhere... as such, I can't say that the watch is a critical and indispensable tool to read the time. As such, they have gradually turned into statement pieces for everyone, even if many do not accept this.
why do people have a hard time choosing a watch? If there was a need for the utilitarian function of reading the time, people would choose any watch in a second, as any watch would indicate the time. But people can spend hours on end choosing a watch, precisely because they want it to stand out and attract attention through their statement design