Have you ever heard of the sales term "creating a need"? I don't need a tablet, I've already got a nearly 5" screen phone and a 15" tablet. I don't need £100 headphones. But I want them. I'm not saying that smartwatches will replace smartphones or even will better them in use cases. But for things like running/cycling and fitness they will be super useful. And for quick glance notifications. You get a text, rather than puling your phone out, you glance at your watch to see who it's from and then decide if it's worth your while replying. Reminding you of appointments. Syncing with your phone whilst it's on charge in another room so you still have access to notifications, incoming calls etc (kind of like tablet talk etc). Using it as an MP3 player with Bluetooth headphones where you can control the player with your watch rather than having to get your phone out to pause etc.
Now this product won't be for everyone, but just dismissing it out of hand as Andrex and Divvy did? That's ludicrous. Didn't Nokia do the same thing with the iPhone? Where did that land them? The Wristwatch manufacturers should rightly be shitting themselves right now.