For years, Audemars Piguet (AP) timepieces were regarded as a mark of success for a certain kind of crypto bro. Over the weekend, the watchmaker announced that it’s collaborating with Swatch, an entry-level watchmaker.

The “Royal Pop” collab has, in the eyes of crypto investors who bought into AP’s ostensibly exclusive brand, destroyed its reputation as a wealth signal for crypto bros who’ve made it.

Indeed, Protos spoke with two watch resellers who say that complaints from AP owners are “raining in.”

The AP watch that inspired the upcoming Swatch design, AP’s Royal Oak, has long sold for north of $30,000. Models of Royal Oak with more rarity, such as the 15202ST, have even resold for six figures.

To…