actually, not so much.
we've been using smartphones to tell time for 8 years, and traditional watches show no signs of decline. that's because they no longer serve the primary purpose of telling time, but are instead fashion accessories. Apple Watch will fill a niche in the wearables market, but will not displace current watches for most people who wear them. that's because we wear a Baume & Mercier or Bell & Ross or Patek Philippe for the exquisite design, not just the time-telling.
your phone and crt anology doesn't work here, because those are inherently technological non-wearable artifacts that necessarily evolve over time, with older versions becoming obsolete. watches, on the other hand are about style, not technology. and in that arena, the Apple Watch isn't even a player.