What happens when someone walks into an Apple store and they are sold out of the particular band/watch combo? "Sorry we have the watch, but not the band you want... sucks."
But that can happen when the watch/bands are packaged together, too.
So Apple has 18 steel watch/band combos on their website. They start out by having all 18 in stock. One of the 18 turns out to be very popular, and sells out in an hour. Now, customers have a choice of buying a watch with a band they don't want, or they can walk away without buying one.
How is that an improvement over, "sorry, we have the watch but not the band you want?"
Watch with the Black Stainless Steel Link Bracelet being expensive, but just like i can see the Stainless Steel Link Bracelet being expensive. We know that the entry level starting point will be $349 and that will probably be for the Sport version, so maybe add on a couple of hundred more for Stainless Steel with Link Bracelet.