I'm still not convinced that the Apple Watch is even technically a good product considering the price vs. features vs. durability vs. etc. comparison with all of its competitors. It's a successful fashion accessory.
It seems a frequent reminder is required that Apple is not a tech company. They're a marketing company, and a very successful one. Whatever it is they actually make is a side project compared to trying to convert it into a status symbol that'll replicate the popularity of the iPod and iPhone.