Well, a Rolex Submariner now costs >$10k, so that will be a determining factor for many of us.
In my experience, ALL the micro brands are lacking something that the Big Boys have, whether it is little finish details, bezel action, bracelet quality...
Once you get up above $500, you can expect that stuff to start going away, and you can't really get it with a Chinese-made watch, IMO. (even if they have a Japanese or Swiss movement)
I almost bought an Armida once, but they were out of stock on what I wanted.
One micro brand watch that hasn't disappointed so far has been my Squale 20 Atmos. The casework is excellent. Fit & finish and crown are truly Rolex caliber. Bezel is a bit harder to grasp than on a real Sub and the clasp & lume aren't as nice either. I'm not disappointed for the money paid, though.
Hamilton Khaki Scuba is one to consider; very good quality, fair price. They only lack AR coatings. Same for Tissot Seastar <-- Those are not really homages, though.
I have high hopes for my Glycine Combat Sub which is to arrive today...
My opinion after all these years is to either get a cheap homage in the $50-150 range like Invicta or skip right up past $500 and get something properly good.