I get that the types of guys who might wear Ed Hardy may also find Panerai desirable, but you need to isolate the two. The guys who you find sporting Panerai doesnt automatically make it a junk manufacture. Panerai makes decent watches - overpriced for the movement enclosed within the case in most examples, yes, but that's an argument that most high end watch buyers are not informed enough to partake in.
LA guys could probably understand this analogy. Maserati GranTurismo owners in LA are 9 times out of 10 the kind of guy who will go to bars and clubs 20 years past the appropriate age, sport bad facial hair, metal jewelry, tight fitting clothes, white loafers, sunglasses that are appropriate for sorority girls and usually boot cut jeans with pocket flaps and embroidery. However, you can't slam that car for the guys who usually spring for it. It's a fantastic sounding car, that performs mediocre, but subjectively looks great and a star seller in the company's lineup. (also has the worst stock spacing on the rims of all performance cars LOL)
I used to love the AP offshore...but after they started to churn out a special edition every month for every celebrity/boutique/event etc, and it became the most coveted watch of the nouveau riche, I decided I wouldn't ever want to own one. It's the Maserati GT of watches. A fine automobile/timepiece, with unfortunately awful clientele.