Unfortunately it seems not everyone agrees with you. I guess I'm pointless and have no taste because I like my Watch? What would make it not ugly for you? Changing the screen from square to round?
Definitely not a round screen. That would have made it even worse. It should've looked like a mini iPhone, or similar to any other portable device. Like this mock-up (linked below). Not exactly, but similar. It should have been as large as possible to improve usability, but not so large that it draws too much attention or sacrifices wear-ability, and should've been thinner. The current Apple watch screen is way too small and it's too thick and chunky.
https://www.macrumors.com/2014/07/02/2-5-inch-iwatch-concept/
If the screen was much larger; if it was thinner; if it was more sleek, luxurious, and classy looking; wasn't dependent on an iPhone; and maybe came in rose gold, light gold, flat pastel white, Apple white, space grey, then every young kid and young adult (especially female) would have eaten it up.
Oh, and lose the goofy, tacky, childish, colored, cheap rubber wristbands. Those look like a terrible, tacky, joke. Tim got too excited about the profit margins on those hideous things and couldn't resist.
If it at least succeeded in one of the two areas (i.e., a nice visual fashion accessory or functionally effective), then it would have had a chance. Instead, it fails in both areas and what we have is an ugly pointless watch.
And whoever allowed this scene to happen needs to be fired. With all the resources, talent, and cash available someone at Apple couldn't have gotten a clue and given this guy a make-over for the presentation? It looks like his mom dressed him. I'm sure the kids were drooling for a new watch after seeing this presentation.