I can't believe this is even a thread, let alone a thread people are getting all up in arms about.
My take: So what if Apple made a "watch"? Are we really to expect that it is going to make Swiss mechanical movements obsolete?
The only people that buy a Rolex, Omega, Tag Heuer, Patek Philippe, Breitling, etc, aren't looking to strap an overpriced mini-tablet to their wrist. The individuals that buy said watches (or can even afford them for that matter) have higher class than that. These things are just a novelty. Once the "newness" wears off, they will drop drastically in price.
Whether or not they stick around and have success or drop off the face of the Earth as a failed Apple product which no one wanted remains to be seen. All I know is, I won't be buying one. Beyond that, I don't care one way or another about them.