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BB58 in 72 degree Texas. 😎

Omega in Tulum

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BB58 in 72 degree Texas. 😎

Omega in Tulum

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Rising Star
You can assemble your own for about the same price, and then it won’t have the Steinhart branding on it and you got to build it yourself.
Chief
If you go on the watch modding page on Facebook or there are a ton of sub forums on WUS for this.
Chief
Steinharts are tough to beat from a specs to value perspective, but there is a lot more to a watch than specs. They aren’t perfect though, namely their bracelets are mediocre at best. Bracelet quality plays a huge role in the experience of a watch to me.
I’m the guy always pitching micros on here and I’ll stand up for two watches being better values.
1. The Zelos Mako - older versions had sw-200, the newest have 9015s. Cheaper than most Steinharts with an original design, better finishing, cool color ways and a better bracelet. They are going to be refreshed again in August with new colors and an improved bracelet with a quick adjust clasp. The problem is they sell out really fast, so unless you want to wait until August you’ll have to buy second hand and some colors are selling at a premium to their original list price.
2. NTH subs are homages to a ton of vintage designs but not straight copies like the Steinhart and also they don’t do any of that faux patina or old looking lume. The NTH case is phenomenal, it’s basically a thinner version of the 16610 case. Their bracelets are also excellent, significantly more comfortable than a Steinhart. They run 9015s also and generally keep great time and hold their value well enough.
I own both of those watches and have owned an Ocean One 39 which was nice but the bracelet ruined it for me.
Pro
Great options, thanks!
For water resistance as a focus and lower cost, Seiko has some models that are worth looking at.
I have a Tuna and you can usually find them used at around your target price point.
Christopher Ward C60 can be found on sale for ~$750. Has all of those except WR is 600m (obviously not that it matters). 200m w/ ISO certification is all you’d ever really be able to justify.
Seiko dive watches.
Rising Star
Seikos aren’t available with ETA movements. While the 7S26 and derivatives are nice movements, OP specifically asked about watches with ETA (which I would assume includes Sellita) movements.
Historically, Seiko also hasn’t done sapphire in watches under $500, they were very committed to Hardlex. That seems like it may be changing but too early to say for sure.