Yeah, it's not perfect. But there are also Land Rover models. The Land Rover models compared to the Range Rover models. They use some of the same parts, the same processes, and some people argue you're basically buying the same thing for a lesser price, when normal people feel like that's really a justification for spending less money. Same thing with Tudor/Rolex.
The thing is, Rolex was started first, then Hans Wilford founded Tudor as a company specifically designed to sell very nice watches at a slightly more affordable price.
Going back to the original athletic department analogy, Rolex is like UT-Austin, Tudor is like UT-Arlington. There's not really an equivalent car company.
But to compare Texas and SMU athletic departments, a better analogy would be to say Texas is a Rolex, and SMU is some other nice but not exclusive brand. Frankly, SMU athletics isn't even that great, although they've had some recent success. Seiko maybe? SMU is the Seiko of athletic departments.