I'm not sure you really want a lack of competitors to the Apple Watch if the Apple Watch is all you care about. A lack of competition is the reason why the iPad mini 3 only got Touch ID and not the A8X, laminated display, better camera, and 2GB RAM like the iPad Air 2.
You want FitBit, Jawbone, Android Wear, and this Microsoft Band to all be very competitive products so Apple produces the best Apple Watch possible at a very affordable price. There's nothing worse than when a company rests on its laurels (especially price-wise) because the competition is lacking.
This, because I'm ACTUALLY kinda interested in this Microsoft Band. It's nifty, slimmer, and provides most of the functions of the Apple Watch that I care about. And of course, it's cheaper.
However, Microsoft has left a bad taste in my mouth especially since I've tried both the Kin and Zune years back. Yuck.. I don't know. I'll decide once Apple Watch is officially unveiled. I do hope this pushes Apple to make the Watch even better.