Read the Innovator's dilemma to understand that when a new product is launched nobody really knows what is useful for. It happened to the Iphone, it took at least a year and a half(it had no apps at launch!!) to start being useful for something and it happened to the Ipad: people did stare at it and say "it's cool, but I don't know what I could use this for", There is a video of a news reported asking this to people…
And i'm sure if you've asked in a place like HN at the time - they would have talked about some killer app ideas and a marketplace.
And let's not forget - we've already had android wear for some time(and the pebble before) ,and yet no great ideas, even just as prototypes or discussions.