Let me preface this by saying I'm not a watch person - the most I've ever spent is £200 (and I thought that was a lot).It still shocks me at how many people don't realize how expensive it is to make a high quality metal bracelet for a watch. It's not cheap. The bracelet and clasp assembly on the watch I'm wearing daily is $2200-2500 retail. And $1100 of it is just the clasp. The prices Apple has their bracelets and bands marked at are very reasonable for a higher end watch, which is what Apple thinks this is. I personally don't agree that the watch itself belongs in the high end watch category, but the metal bracelet is of high quality/design, from what I can tell.
But what makes a clasp assembly $1000+? I have a Casio Edifice with a link bracelet, and to undo it, you just press two buttons and there, it's undone. To do it up, you just push it together.
I'm struggling to think of an easier way to do this, and I'm intrigued to know what makes Apple's band cost more than my entire watch, which, from the surface, seems to do exactly the same thing.