I think Apple is in a tough spot here. I tend to be a fanboy that buys everything Apple, but in this case, maybe not. My reason is that I don't want to pay big bucks for a beautiful stainless steel watch, only to have it be obsolete in a year.
What I don't get: There are people who upgrade their beautiful smartphones every year. But when it comes to upgrading beautiful watches every year, there is some kind of psychological problem with that, even though the watches are cheaper than the smartphones.