Except that is a not a block of gold, it is probably stainless steel (it could be Titanium) but because you can't tell it is or it is not, it is the same stainless steel used in other watches, other watches that costs a lot less, so the material here is irrelevant.
So we go to the DESIGN. It is not like you can see behind the casing, sorry, i don't have X-ray vision. I don't know how expensive the movement behind the dial is. I can only see what I see. And it looks simple, actually, looking simple is fine, it takes real skill to design something simple and elegant. But that's gone past simple and elegant into dull and boring...thus cheap.
Plus something can look cheap even if you use good materials. A leather bag using real leather can look cheap, until you put Alexander McQueen's name on it.
Plus, it is my opinion that it looks cheap, it seems you see the name and see the $$$ signs and automatically triggers in your mind that it looks expensive. I see the design (the name is meaningless to me) and the design looks cheap.
So, my opinion that it looks cheap. And why are you trying to convince me that it looks expensive? Surely the point of that is understated, not bling ?