The least expensive Ferrari is also 8x more expensive than the most expensive Ford Focus. The 38mm AW Series 0 sport is, what 1.5x more expensive than a Fitbit Charge 2, 1.3x than a Blaze?. Bit of a far fetched comparison between Ferrari:Apple to Ford:Fitbit. The AW sport is in no way unaffordable for most people like the Ferrari California is and also is not a status symbol or representative of outstanding performance by its industry.
The reality is Apple is the only real game in Smartwatches right now. As a smartwatch the category is still trying to find its niche -- and people are trying to understand it. As an activity or sport watch AW is mediocre, not superior like a Ferrari, even a "low end" California. AW does everything a Fitbit does but nothing a real running/biking/hiking/triath watch can do. So if one is only looking for an activity band Apple doesn't really make much of a case why people should spend more on AW than a Charge 2 or Blaze. They all count steps, HR, show notifications. AW apps are a PITA to use. It's a lot quicker to just take out your damn phone. I say this even as I still wear mine -- but not for running. I wear a real running watch for that. Apple has a lot of work to do before AW is a tech must have like iPod was and iPhone is.