Seriously? The iPod touch is using 3 year old technology. A new smart watch designed from the ground up will be using the absolute newest technologies available. There is no way it will cost less than an iPod.
You honestly think it will being using hardware on par with the iPhone XD. The iPod touch is also going to get an update when the watch is released anyway so that point is completely moot.
Yes because they are covered in gold and diamond, completely non comparable.You have already described most current watches. Many can run you several hundreds of dollars, if not thousands of dollars like a Rolex.