How long are you're workouts? I used to train in track at the national level and I rarely exceeded 2h (and that included long technical training).
If you're training for ultra-marathons, yes I guess this watch would not be for you ;-).
I'm a mountain biker and our rides often last in excess of four hours so it looks like it might not be much use to me and other cyclists.

It also shows walking as one of the fitness categories and most hikers are going to be out even longer.
Nothing is confirmed so I'm not going to dismiss it just yet but less than 4 hours of fitness tracking will be a deal breaker for many people if it is true.