Regardless of whether it's a rolex or a knock-off or some other big brand's version of a rolex, weren't we always told as JWs that appearances matter? You can't be alone with someone your dating, not because you'll definitely have sex, but because it might look like you could've had sex. You don't wear flashy clothes to the KH even if they're cheap imitations because it looks like you're making a "showy display." It doesn't matter what it really is, or how he got it. What matters is that he's a televangelist wearing a gold watch that looks exactly like a $20k rolex, along with 2 gold rings.
I don't care if that watch came out of a box of cracker-jacks, his wearing it for a public appearance on the web is absolutely the height of hypocrisy.