Omega's stated goal is to push into Rolex's price territory ($5k+) and their recent new offerings as well as straight up yearly price increases on old models reflects it. I'm a big fan of my Omegas (Speed Pro, X-33, and formally a Planet Ocean), and one of the reasons I was drawn to them was their more down to earth pricing for very quality pieces. Rolexes are nice watches, but at some point you are paying a premium for their branding over the actual quality.
This Z-33 is fugly, but Omega had some nice other pieces at Baselworld. The Planet Ocean reminded them they had good design roots, then they go about forgetting it...