you should understand the craft of movements...
...The quote about IWC being a workingman's Patek was repeated by me on this forum, but it was common among collectors in the 1970s and 80s. I believe it might be attributed to James Dowling, the well-known Rolex expert from the UK.
To my thinking, the issue about understanding fine watches is not whether they look "exciting" or simply whether the movements are "in-house" but rather one of craft and artisanship. These are mechanical objects and the ultimate difference is craftsmanship To understand that, one needs to understand movement design and finishing.
My mentor in the 1990s, and now good friend, is Walt Odets, one of the true watch experts I've ever met. I would commend you to his his Horologium and other Internet articles, where he explains and talks about the craft of movement finishing, They are all easily locatable with Google. You will see that there is a material difference between brands, and subtle but important differences. It may not make a difference in timekeeping, at least in the short run, but there is a difference in craft.
Keep in mind that I am, by personal bias and vocation, an IWC evangelist. But also I absolutely respect other brands, and will say that Patek has attributes that ordinary consumers don't understand but which are important to watch connoisseurs. I personally think they take advantage of that with "unusual" pricing. But I wouldn't dismiss them because one perceives, subjectively, their styles as staid or that they, like others, have in-house movements.
If the issue is craft and if craft is important, there may be a difference. Whether that is true depends first on learning about craft and only then the development of a value system.
Regards,
Michael