I think the elevated gayness level has more to do with the inclusion of some sort of CX 777 branding being applied to the face of the said watch rather than the watch itself.
Would be equivalent to buying a nice car then getting a personalized number plate(bad enough in of itself) that says 777 P1L0T or CXLEGEND.
And what's so wrong with poking a bit of fun at people who take their aviation just a little bit too seriously.
I knew an instructor years ago that used to drive his MG to and from Archerfield in full pilot kit and I'm pretty sure he got married in it too.