Comparing it to the state of the Apple Watch is pretty strange because if nothing else the Apple Watch was functional, self contained, worked, and was under $1,000. Even if it didn’t work you could put it on and ignore it. A VR/AR headset is nothing like that and at $3,000 is a significant investment for most everyone.
But who knows. I haven’t seen it. Maybe it will be amazing and exactly what the VR space needs. I suspect it is a really fancy Meta Quest with significantly more processing power. Certainly Apple is in a unique position with their Apple Silicon. But will Apple open it up enough for gaming if that is what it is? Because that has been the problem in the past. Gamers aren’t going to want to buy this thing unless you can plug it into a PC and have it function as a regular VR headset and the Meta Quest crowd isn’t going to shell out 3 grand.