You're right; I was somewhat OT as antr's comment was about exercise watches.
I don't think the analogy is very strong even looking at Apple Watch as an exercise watch competitor, though. Firstly, I'm not closely familiar with the recent exercise watch/widgets on the market, but I'd be surprised if all of them are as unpleasant to use as the Nomad was. Second, even if the UX advance is really that big, it seems the (first-generation) aWatch is going to have other stumbling blocks, like the need to own an iPhone 5 or higher and the need to have it with you for GPS. Those aren't just missing checklist ticks or things which will annoy a minority of technically-minded users, they're issues which affect whether "the rest of us" are going to enjoy using the aWatch or bother buying one at all. (Yes, the iPod originally required a Firewire Mac, but precisely for that reason it didn't really take off commercially until that requirement was lifted.) Thirdly, the iPod addressed a huge market, even if many users didn't even realise they were in the market for a portable music player until they heard about the iPod. Even if the aWatch wins over nearly everyone who currently uses an exercise wearable, and also draws in a substantial number of people who don't currently use one (and that's a super-optimistic outcome for as long as an iPhone remains a required accessory) is that really a big enough market to make for a commercial success on the scale of the iPod or iPhone, the kind of scale Apple now needs to keep its investors from being disappointed?