Yeah... creating the original Mac is pretty much the same as fitting an entire computer into your wrist. So they should only need 9 people for that.
This has already been done as a kickstarter project....
http://www.kickstarter.com/projects/597507018/pebble-e-paper-watch-for-iphone-and-android
Let alone the other stabs at this done by Sony and others. Not to even mention the work already done by the OS for the iPods using a slightly larger form factor.
So no, this is not in the same scope at the original Mac project. The minuration aspect is already availble with "off the shelf" subcomponents that can be added to a SoC design. There is no Manhattan project or moon landing aspect here.
It is far more a question of what do they want to put in (or leave out depending upon your point of view) into the device. Not whether it can be made that small. And no you don't need a committee of 100 to decide that. Not even close.
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