I suppose, but that's too simplistic of a view in my opinion. I would focus on specific models instead of just applying a label at the brand level. There is the Orient Star line of watches which is supposed to be more premium, for example.
Both brands have a long history that goes back similar amount of time. But Seiko has more recognition. Everyone has heard of Seiko. Not everyone has heard of Orient. From that standpoint, I find Orient more unique, and that in itself has an appeal, at least to me.
Ownership aside, Orient still operates pretty independently.
At the end of the day, it's about finding a watch that suits your tastes and that you'll be happy wearing. This includes making sure the size and weight of the watch is appropriate for the size of your wrist. From a quality perspective, both Seiko and Orient have it, IMO. But if it makes one happier knowing that it says "Seiko" on the dial, I get it. For me, if I don't like how it looks, I won't wear it regardless of who makes it. I have a fancy Zenith el Primero watch that was given to me as a wedding gift. It's not my style, so I have never worn it.
Plus, if you get into this hobby, you will end up with multiple watches. There is nothing stopping you from owning Seiko as well as other brands and wear them all in rotation. Male jewelry is all it is.