It wouldn't surprise me, it just seemed like a lot of good reviews. Presumably the days of getting a couple of friends to write glowing reviews has morphed into a booming industry!
Yes, I glanced at the 1 star reviews. Comments such as the hands falling off do make you wonder.
However, the interesting thing is that even selling at that price means that it's possible to manufacture (or at least buy) watches for under, say, a pound each. You can't even buy a watch strap for that in this country. I once bought a watch at my local market for £6 - it lasted about 4 weeks. However, as I'm waiting for Father Christmas to bring me a new, expensive (I hope!) watch, I bought one at Sainsbury's for £8 a few months and it's still going strong.