I really don't think they can plausibly do a fashion launch like the Apple Watch. I don't think they have the stores to do the presentation or the ability to present themselves to high end customers. They can't, for example, launch a $15,000 watch. Apple did, and I suspect we will find that they didn't just launch it, they sold them in decent numbers.
Sure Sammy will make new and better watches. And they may even copy Apple's style. But will they invest in multiple bands? I don't think so. Will they have a $1,000 version? Doubt it.
The Galaxy S6 seems like a nice phone. I'm curious when I will actually see one in person though.