Please show us the market research that you did to base your assertions on.This thing is going to be a massive flop. Nobody wants an "iwatch".
This will flop worse than "3DTV" did.
Except in your analogy, the "iwatch" is the bike. It's like buying a crappy bike and attaching it to your car for no good reason other than the fact its called an "ibike".
You are right, my analogy is flawed. Better one: you have a TV with controls, still you like to use your remote, because it's convenient.