It has a bunch of very cool features, and the benefits of the watch aren't readily apparently until you start using the watch for a bit.
That is certainly the truth.
When the Apple Watch first came out, I went to the Apple store and couldn't figure out why I'd want one. Recently my wife and I upgraded phones. We got a 6s and 6s Plus. I figured she would take the plus since she mostly carries it in her purse. I have always leaned toward smaller phones, and planned on taking the 6s. For my wife's birthday in December I picked her up an Apple Watch, as I figured it would be a great companion to the bigger phone. After helping her set it up and playing with it, I was really impressed and began to see exactly why it was useful. After about a week, my wife told me that the 6s Plus was just too big and that she wanted the 6s, so we swapped. Being someone who really enjoyed smaller phones (and the fact that the 6s Plus is not very easy to slide in and out of the pocket in certain situations), I figured I would pick up an Apple Watch since the sales had been pretty aggressive on them. I'm really amazed at how well the watch does what it does.
Originally, I was looking at the watch as another iPhone/iPod Touch type of hardware. I didn't really get or listen to Apple when they said interactions would be brief. Now I view it as a really nice watch, that makes owning the larger phone a plus (sorry) instead of a negative.
I was somewhat concerned about a new Apple Watch coming out in the spring, but I probably would have never purchased one if it were not for the aggressive pricing. I am assuming, even though the next version will get better hardware, that a WatchOS update might add some nice features to the existing Apple Watch. The only things that bother me on this one is that a bluetooth headset only seems to work for listening to music instead of being able to take calls, and the fact that the phone still needs to be close by to take calls as it uses bluetooth instead of wifi. I am hoping that an OS update might improve this, as the hardware that exists in the current Apple Watch seems like it should be capable...
Overall, I have to say that we are both really happy with the Apple Watch. I'm surprised that I eventually wanted one, as I have never been a watch wearer - and was very pessimistic about the Apple Watch when it was launched. After really getting to see what the watch is used for, I eventually turned 180 on it...