A Couple of Points/Misconceptions:
1. "Disposable"
So, I know people are used to the Pebbles and other "smartwatches" and their sealed nature.
This is actually not the norm with, for want of a better phrase, "real" digital/electronic watches, of which I own several. Note I did not say "smartwatch"
In these types of watches, it is ordinary and customary for the internals, anachronistically referred to as 'clockwork' (because, watches) to be removable and repairable. I've had to have one fixed in the past and the watch company sent the clockwork to me to have it replaced by a standard run-of-the-mill watch repair shop. They have the tools to do it and it isn't a new, rare or unique thing at all.
Apple, who are making a "watch", which they "believe/feel" is a Watch First, has no reason to not go the same route. It's a "watch" not a "smartwatch gadget" (to them). They may opt to do this themselves via Genius Bar appointments or authorized outlets, but it isn't far-fetched to believe the clockwork will be replaceable.
2. Apple
One of the things Apple has been doing for years is driving prices down for things with high build quality due to their own investments and the economy of scale. While many things Apple sells are "expensive" they are at the higher end of the machining/build quality scale for *things that are mass-produced*.
Apple, because of this scale, can and very likely will be selling this stuff at prices *higher* than 'junk run' prices, but far, far lower than equivalents in the industry they are entering due to this economy of scale and supply-chain mastery.
I expect the "fancy" bands and things to come in at about 60% of the (watch) industry pricing norms. *This* is what they meant when they said "Switzerland should be worried".
3. Gold
The Watch is made of, as stated, an 18K alloy, which would put the content at 75% of the spot price. Because of flux, they are likely going to price it where they have room to breathe should the needle go up, tho they wouldn't take a loss over what they pay at time of manufacture, so expect it to be priced at like 85%. That said, $2,500-ish seems to be in line with Materials, Manufacturing, Marketing and Mark-up. And "Value"...we know how they love to do the "No one has ever been able to offer this level of bla blah blah at this price before" thing.
4. The Goal
Apple's goal is to sell (literal) boatloads of these things. They only make one product that isn't made for mass-consumption by the Middle Class - The Mac Pro (which is a beast...by far the best Mac I've ever owned and I've owned them since the 80s).
As breathless as many of these pundits are about their projections, they all seemed to forget about the company they are dealing with. Apple didn't hire all these high-end people to *become* them...they hired them to help them figure out how do do what they do at a scale that Apple can to make the quality and luxury 'affordable' to the Middle Class consumer market they serve, which is full of people that while not millionaires, have money to spend.
I wouldn't worry about $10,000 Gold Watches coming from Apple. It isn't in their DNA. Their DNA is "what is the best watch we can make in the vein of $10,000 gold watch craftsmanship for less and still make money on it, while highlighting what we're good at?"
-K
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Watch version of 
