Can You Figure Out What Makes This Watch "Video Game-Inspired"?

Joel: I honestly cannot see what makes this Converse watch "Video game-inspired"
Fahey: Well it's got....um. There's the... I got nothing.
Totilo: Dr. Mario!
Joel: That's about it maybe.
Totilo: also, the red and white on the right is clearly an abstract version of fireball Mario from Super Mario Bros
Totilo: the navy blue is an homage to arcade classic 1943
Joel: It makes me wish I'd paid $75 to buy a new game instead of that crummy watch.
Totilo: and the teal and yellow is a modern reference to that Twisted Pixel game
Fahey: The red and white is Ken and Ryu, duh.
Joel: Maybe it's supposed to be Sonic's hand when he's got the flu and he's trying to decide what pill to pop?