I don't think it's the same thing. Those things you mention are icons of those brands. The "5" on Seiko's is just unnecessary. There doesn't seem to be a reason to have it and more often than not, people tend to agree that it looks tacky or cheapens the look of the watch. I don't think snobbery has anything to do with it. If I were a watch snob I don't think my favorite watch would run $300.
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