While an interesting milestone, it's not really that relevant a comparison because the only similarities between a Swiss watch and an Apple Watch are that they go on your wrist and can be used to tell the time of day even though that's not really why you're wearing it.
A Swiss watch is a piece of jewelry. Sure, it tells time, but fundamentally you're wearing one because you like how it looks and/or it's a fashion statement, in a way that is socially acceptable by current standards of masculinity.
An Apple Watch is, depending on the use case, a health tracker, notification device, an exercise music player, and/or lightweight communication tool. Sure, it tells time, but fundamentally you're wearing it for other reasons.
There's nothing wrong with either of those use cases, but pretending that you own a $10,000 Swiss watch as a clock is as silly as pretending you own a $400 Apple Watch as one.
I was initially going to make the comparison of an old-school cellphone to a modern smartphone, but that actually doesn't work at all. It's more like comparing a painting to a TV--they both hang on your wall and have an image in a frame, but fundamentally you put them there for completely different reasons.