Im just think about how the iPod, iPhone, and iPad were talked about before their release. MP3 players, smartphones, and tablets had been around for years the critics snarled. Apple is late to the game they said. The cell phone market was mature, cutthroat, and low margin and Apple would get killed if they jumped in.
Now smart watches have been around for years and we hear the same bleating about how Apple is late to the game, competitors have beaten Apple to the game, Apple cant possibly compete, etc.
Remember that this is how Apple has always operated. They watch what others are doing. They notice what works and what fails. They never worry about cannibalizing an existing product, something competitors are loath to do. So I do expect something amazing IF they actually do it.