I don't really understand all the hate on the Pebble. Yes, it's only really become a stable consumer product in the last year or so with significant software updates, but I think it dealt with the design restraints of being a watch much better than what we know of the Apple Watch so far.
Usually Apple has been great designing around the restraints of a platform instead of changing them for more aesthetic purposes which unfortunately I think they've done with the watch.
For a smart watch I think the primary restraints are
+ Being able to see the screen in all conditions, especially bright light. I'd rather the Apple watch have a 300dpi e-ink screen like the new kindle than a color screen which doesn't add much except battery drain and harder to read text in all lighting conditions.
+ Having a battery that lasts more than half a week
+ Having a simple, minimal interface to make it easy to tell time and be able to get and dismiss notifications quickly to decide whether I need to take out my phone or not.
+ Being able to track fitness
As nice as the Apple Watch looks, including software, it seems as though they've emphasized adding too much functionality of the phone itself. Photos, that icon home screen, maps, etc. A watch is something you glance at.
In the end I'll probably be tempted to get the Apple Watch like I always am with Apple devices, but I don't think the Pebble's take on the problem should be dismissed as much as people are.
Less related, here's an example of fantastic design based on the constraints of the screen. Great watch face design for the pebble.
http://ttmm.eu/