I think it's fair for Omega to move up, but disagree that the Ed White is 'above the quality of a Rolex'. The Daytona is basically the same price but is more accurate, has a larger power reserve, is more anti-magnetic, has a column wheel, is vertical clutch, has a higher beat rate, has ceramic bearings for the automatic winding system, more jewels, is more waterproof, is more shockproof, and has a better built clasp.
I'm a big Omega fan, but the Daytona is technically superior, imo, and is at least finished as well as an Omega.