FIrst of all, this is not competition for Samsung, nor any other real tech product provider. It is a niche product.
Secondly, wearable tech will INDEED take flight. We are at the very beginnings of a new wave. All you armchair quarterbacks prophesying the demise of smartwatches need to look at tech history - even in the auto business. It's got to start somewhere and there are many useful approaches to making access to our information much more handy and less expensive.
Anyone want to go back to their comments about the Tesla now? That doomed nobody-of-a-car company with a stupid idea?