No. This is day one, of a 20 year waiting period, before the technology is ready for wearables to gain capabilities similar to current smartphones. We have just entered the era of smartphones and tablets and it will stay just as long as the era of laptops and desktops did. If you try to build a smartwatch with smartphone technology, you will end up like Bill Gates trying to build a tablet with laptop technology. It is undoable. With todays technologies we can build wearable peripherals and sensors like the Nike Fuelband, but not a smartwatch that is worth its name.
So what do you want?
Let's not build a single car till we can build a Bugatti Veyron?
Let's not build any phone till we can build a iPhone.
Let's not build any space ship till we can build a Starship Enterprise.
That's just moronic.
You always try and build the best you can with the materials and knowledge you have today.
That's how we got from a mud hut to a skyscraper.
Or perhaps you think we should of stayed in mud huts till we perfected the skyscraper plans and materials.
How dumb and stupid is that.
You build the best you can today.
Tomorrow you can built a better one.
The next day, a better one still.
That's how humans got where they are.
Or do you think Apple will product perfectiong with their 1st attempt
like the 1st iPhone, the 1st iPad, the 1st iMac, 1st Mac book.
Ok, well you go hide for 20 years.