Once all is said and done, and I receive the 3 extra bands I ordered, my Apple Watch when worn it it's most expensive configuration will be worth $1000. I feel it's worth every penny of that for the pleasure I'm getting out of it now, and the pleasure I expect to get out of it in the future.
As far as the technical aspect of it, it's everything I hoped it would be and then some. Mostly because I didn't expect it to do anything more than notify me when I received a call/text/email. The complications on the watch faces are icing on the cake. Very sweet icing, I might add. Anything it does over that, is pure magic as far as I'm concerned because I never expected anything beyond that. I thought I knew what I was buying, and what I received has not disappointed.
I own 8 other watches, the most expensive being a Tag that I purchased 13 years ago. When I wore the Tag, I always felt like I was wearing quality. That's the same feeling I get wearing the Apple watch.
I can understand being disappointed over the technical abilities of the watch. Although, if you expected more than what the watch delivers from a tech point of view, I kind of think that's on you for having unreasonable expectations. I don't think Apple promised anything more than what the watch actually delivers.
What I can't understand is how someone could feel that the ss version of the watch feels or looks cheap. Even with a rubber band, at $550 for my ss with white sport band, it absolutely feels every penny of it's worth when compared to my $2000 (at 2002 prices) Tag Heuer. I have a few cheap(er) watches in my watch drawer. The Apple Watch cannot be counted among them.
Not sure what problem the OP perceives with the Apple Watch, but his perception of quality and value is quite skewed from reality, in my opinion.