Here's the thing. A $20,000 watch is more than I make in a year, so keep in mind that this is coming from someone who will not own one anytime soon.
The problem I have with this is not how much it would cost. There are other $20,000 watches I'm sure. The problem I have is the lifespan of the watch.
A classic mechanical watch at $20,000 -- It would and should last a lifetime. An Apple watch? It has a custom battery inside that lasts a day on one charge. It'll have a maximum life of 5 (optimiscally 10, but at a way reduced volume) years. At that point, what good is the apple Watch going to be? You'll need to replace it with the latest and greatest one, unless Apple included a cool way to replace the battery. That's fine! Just swap out the watch, keep the same band. But by then, the Apple Watch 5 is not going to have the same shape or size; you'll need a new band too. _Its how Apple works._ even if you can replace the battery in it, it'll be obsolete eventually as newer BlueTooth protocols come out - tech becomes obsolete no matter what. A mechanical watch does not rely on software, it relies on a simple battery or wind up function. If taken care of it will literally last for ever.
What's my point? I'm not sure. I just think that while a $20,000 watch is extragavent, a $20,000 smart watch that will go outdated is a scary prospect.
But then again if one is filthy rich then I guess it won't matter anyway...