The fakes do make me sad. Honestly, the sheer volume of people wearing tacky fake Rolexes has rather turned me off the brand (plus some truly garish models pushed by certain segments of the popular music community).
In my view a mechanical piece should be appreciated for the engineering, the quality of skilled workmanship, the design and heritage first and foremost. Rolex as a company has this, but I think that sadly, many who wear and popularize the brand wear it as a status symbol. Honestly, if it were gold, covered in diamonds and had a Rolex logo, they'd be just as happy with a cheap chinese quartz movement. That, for me, is completely against the ethos of understated apreciation for the finer things in life that a fine mechanical watch should embody.
Now Glashutte, Jaeger le Coultre, Zenith, Patek, Grand Seiko. These are classy pieces, not least because most people, those not 'in the club', wouldn't give them a second glance. Omega is known, but in the modern era it falls short of Rolex in recognition, although emphatically not in terms of quality or engineering. For me this actually makes it more desirable, not less, which I why I have a Seamaster, not a Submariner.
Al.