iPhone was an extension of something that's necessary (a phone) and now smartphones are a necessity for a lot.
A watch, however, is an accessory. I haven't worn one in years, always used my phone to get the time and never had a problem with it. And I'm sure there are many more who will agree with me.
Not saying this rumored I watch will or won't succeed but I can't write it off not knowing whether or not it do something special. We all know the basics of a watch and the basics of these new smart watches, but if Apple can make their watch do something special......
-act as a bridge to your iPhone(text, email, find phone,
-act as a remote to your Apple TV
-the ultimate gym iPod with Bluetooth headphones
-voice recorder
-speaker phone when your phone is across the house while cleaning.
-calculator
-NFC
FB messenger(with new voice service), Voxer, heytell, etc would be pretty awesome in a watch
Of course this would have to be a pretty big watch to fit all of that but hey....doesn't hurt to dream.