A real Omega moonwatch is so different from the moonswatch that it's not a substitutable good at all. No one who was previously interested in buying a real $6k+ moonwatch is going to instead buy the 1/25th price Swatch and call it a day. The Swatch is an homage to the real thing. Homages are common in the watch industry (look at, e.g., the Invicta Pro Diver vs the Rolex Submariner), and here we see a conglomerate leveraging its lower-priced brand to profit off an homage to its own brand rather than leaving that exclusively to others (see e.g. the Pagani Design Speedmaster).
FYI if anybody cares, the Invicta Pro Diver might not be a Rolex, and some watch guys will openly mock you for putting a NATO band on one, but it's a fine watch for the price and gives you 80% of the look without having to gamble on a replica if you can't/won't buy a Rolex. I like mine a lot.
