I don't want to drag this out, but the one thing that comes to mind here is that paper (or a website) will hold whatever it is written on it.
We'll never know if that's true or not.
Perhaps.
But historically, the Trump brand predates his entry into politics by several decades. His name is something that's long been associated with wealth, success, and business saavy...rightly or wrongly. Before he was the US President, he was a well known celebrity, famous for his businesses.
Trump has sold the rights to attach his name to various business ventures, from hotels to personal accessories to food products...a company negotiates with him, a deal is made, and a product bearing the "Trump" name is offered on the market. Some are successful, some not so much, but this isn't really something unheard of, for Trump or any luxury brand. A company makes a buck, DJT gets his licensing fee, and a buyer gets a product that they...for whatever reason...want. This is how business operates, all over the world.
Navy Seals allow their brand to be used on wristwatches...by Luminox, Panerai, and probably others...I don't really consider that an "endorsement" of the watch...the handful of SEALs I've met wear a Submariner or a Garmin. IWC isn't "Endorsed" by Exupery when they sell Le Petit Prince watches. I was on vacation in Key West Florida and saw at least a dozen products bearing Ernest Hemingway's name, from wristwatches (one of which I bought) to Rum, Pens, and leather goods...all manufactured long after his death, but by your rationale, "endorsed" by him. I'm looking out the window at work at a "Harley Davidson" Ford F-150...I doubt Harley is endorsing people choosing a truck over a motorcycle, but they made a buck letting their name be used.
Hell, Elvis and Marilyn Monroe have "endorsed" more products, post-mortem, than most celebrities do in their lifetimes.
So for the record, I think this is one butt-ugly watch, and so ridiculously overpriced at $500k that only a fool would buy it. But a fool and his money are soon parted, and it's not, by far, the worst waste of money I've ever seen...I bought a Microsoft Zune at one point...
A $500k watch isn't really any different than a $500k/plate dinner fundraiser for a politician, although the disclaimer does state that this is not a political donation, which is probably legally required if Trump is, in fact, not profiting from the watch.
Just my $.02, but I repeat my request that we please keep politics off these forums. I get my fill of controversy outside here...this is a safe space where people of different viewpoints come to discuss something that they have in common...we don't need to introduce division here.