As for the "modest hardware changes", I suspect they are starting to hit limits with current technology. Apple does a pretty amazing job of—through their suppliers of course—miniaturization and squeezing more and more functionality out of tiny stuff. But there are still practical physical limits.
I think we might be still a few years away from big breakthroughs (e.g., non-invasive glucose monitoring through additional sensors or blood pressure sensors, etc.)
And...they need to get battery life up.
I think we might be still a few years away from big breakthroughs (e.g., non-invasive glucose monitoring through additional sensors or blood pressure sensors, etc.)
And...they need to get battery life up.