I agree with most of that, but not with the part I've highlighted.
The "Grand Seiko" couldn't be more overt in its declaration of a status piece (otherwise it would JUST be a Seiko), but it's intended for the Japanese market where status is very (maybe more than here) important, but equally displayed in more subtle ways than Westerners are familiar with.
That said, the beauty, as you say, is that the quality isn't hidden behind flash and (usually) gimmicks - maybe the power meter is an exception , but you can't imagine, somehow, a diamond bezel GS! It's left to stand on its own merits.
Based on models I've seen, I don't 'get' GS enough to spend the money on one, that's fine, but I've seen and learnt enough here to know that, no matter what a photo might lead some to think, the quality on the wrist would shine through.
M