I'd be surprised if they do. I think the Hermes models serve an important purpose for Apple. They are obviously not selling a ton of them (relative to the other models), but it gives Apple a higher Price Point & makes the seem/feel like a more upscale watch. It probably also helps to sell the 'mid-tier' models (like the Titanium). When you add a higher price point then the next highest price point becomes a 'more affordable' alternative, so it helps sell the other watches.
It also helps to keep Hermes in the Apple Watch ecosystem. If Apple stopped selling one, Hermes could go to Google/Samsung for a branded model. I suspect this is the reason they do the Nike model too. It's not like Apple needs Nike to sell a sports watch, but it's better to give Nike a cut of the profits, and have them sell your product, rather than having them become a competitor.
And from Hermes side of things, it helps them to bring in new customers, and also gives them a disposable item to sell. Someone above mentioned their expensive mechanical watches, but buying one of those is a one time purchase. Buy an apple watch can be done every year or two.
