Apple would never release something ugly. I'm sure what ever they release will be of a more satisfying design than what is pictured (as the picture is basically an iPod of a few years design mounted on a band).
I for one would love and elegantly designed smart watch that had an interface to my phone. Great on my bike and for music, even a quick glance during driving to stop me pulling out my phone every 10min (Dangerous I know).
As a proud owner of El Capitano Blue and White G3 350, I would tend to agree with you if not for the atrocious puck mouse, round translucent piece of sh...