Perhaps the biggest issues with your viewpoint is that A) you haven't defined what wearables are and B) you haven't stated what problem they solve.
Wearable are bracelets, necklaces, sunglasses, pants, coats, and of course watches with embedded technology. But what problem do these devices solve? And more importantly is that solution greater than the additional layer of complexity and of upkeep (such as charging)?
I personally don't see it.
By this definition Apple invented the wearables market over 10 years ago with the iPod.
"Wearable" is technology that you wear. the iPod doesn't fit the definition just because someone released an arm strap for it, anymore than a boombox in a backpack is a wearable.
The problem it solves is needing to access information quickly and easily. Pulling a device out of your pocket isn't as quick or easy as looking at your wrist.