You misunderstand.
Usually when something gets invented or discovered it takes awhile to find a real use case for it.
Right now that thing you put on your wrist has no clear direction. It's a watch, a running/jogging tool, an exercise buddy, a watch that links to your phone, a watch that has personal medical ID on it, and a watch that helps you pay for things. I never said lacks direction. If I did I mistyped. I said it has no clear direction.
If I asked you what does a watch do can you answer that question with one sentence?
Phone - Used to communicate with people from a distance.
Computer - Used to process data into meaningful forms
Car - Used to travel at a distance
Watch - Used to tell time? Used to sync to your phone? Oh I Know - A watch is used as a jogging assistant. But I thought it was used to tell time. What's a watch?
Right now the idea of the watch paradigm is shifting before your very eyes. It's changing. A watch is no longer a watch. But what is it? Right now. No one knows but it's changing. Once the metamorphosis is completed that watch will be completely different and it will be required to live day to day. It won't be a watch anymore but it'll still be called a watch. Your grand kids will ask you why is it called a watch when it's used to monitor your health for example. You won't be able to answer it like you do now.
Why is your smart phone still called a phone? Clearly you can do a lot more with it than just "a system that converts acoustic vibrations to electrical signals in order to transmit sound, typically voices, over a distance using wire or radio."
And your point is? Not everyone wants or needs more. That doesn't mean others lack direction.