The other use case, being able to tap a friend at a party or concert.. isn't really flying for me. Buzz on the wrist from a friend isn't a whole lot different than a buzz in my pocket. It certainly doesn't justify a $350-$1000 pricetag.
Different strokes for different folks, but for me, the Apple Watch doesn't sell itself. My phone isn't a problem, and the watch isn't solving any great problems in my life. When it does, I'll be on board, but even as a "stepping stone" as people around here like to say, I think it falls short. I think Apple could have done a lot better.
In the end it adds up to a lot of sense for Apple and justifying the price is pretty easy.
$50 is chump change people pee away in any given month on useless crap
$50 is another chunk people usually spend on stupid things like phone covers
$25 is another few bucks people spend on lunches they don't need in any given month
$50-150 is what many people spend on a remote control for a TV/theater system
$200-$300 is what people would normall spend on a consumer grade watch anyway
$100 is what many spend on a fit-bit...
Now maybe you wouldn't buy all of the above or drop all that money, but many do and many more much more. IN terms of justifying even the Apple watch without a sim card, I still think it's worth it. All depends on what you might use it for on a regular basis.
I personally use my watch as a remote for music playing in my house/garage
I use mine as a fit bit
I use mine as a watch
I use mine all the time vs having my phone on me
I use mine as a personal reminder/alarm all the time - rarely do I use my phone for that during the day
I use mine to get quick weather updates
I use mind for reminders from my calender all day long
It has since replaced the ringer on my phone
One of the most important things that it will serve as in the short term is a talking peioce. Daily people use their clothes, cars, etc. as sounding boards for "look at me" and engage with me points. Not everyone, but many. This will serve that purpose. Not a day goes by that someone doesn't seriously inquire about mine. I even put the Apple Watch face on mine and it's drawn tons and tons of attention over the past few months just because of that.
Yeah....I'm in sales and in the medical field and people love it. Again, people are interested in this stuff even if it's just odd curiosity.
The list goes on and on. Will it revolutionize your life, no. But it will help enhance the way you use your current devices. YMMV though.