All that being said, we can bet the farm that the media spin on next week's product announcements will no doubt be around this being the first big new thing from Apple in the post-Steve era.
That's not spin, it's the truth. And you understate The Steve's involvement in product design and development, it went far beyond creating a corporate culture as he was directly involved in even the smallest product details.
It's true that Jobs wasn't able to oversee Apple as well in his last year or two, but that actually had a paralyzing effect on the company. No one wanted to contradict Jobs, but he wasn't there to give his input. iWatch development came to fruition after Jobs died. It is the true test of what Apple's current leadership can do. The more we learn of iWatch, the better it sounds, but remember that Jobs had an ability to identify the specific problem a device should solve, and to focus design into a cohesive solution to that problem. As Apple's competitors demonstrate, it is possible to have all the right design elements and technology yet fail miserably.
There is also the element of Steve's RDF. I think the RDF actually was more important inside the company than outside. He had a gift for motivating people to do what they believed impossible, and for keeping a whole team of headstrong "A-Players" working together. After his death there was a notable talent drain as some of these players left Apple.