Entry level mechanical watches are far superior today than they have been in recent memory. There are entire Youtube channels looking at the value for money proposition. You can buy a Seiko dive watch with their entry level automatic movement for $175. My current go-to field watch is an $80 Casio.
Yeah, I think one thing that’s muddling this discourse is Shein/Temu. People are comparing the perceived “bottom tier” of consumer goods over time and concluding stuff is getting worse, but what’s really happening is that we’ve added new, ultra-low tiers.