Any tech watch whether from Apple or Google is really a gimmicky gadget. There is no market segment as most people who wear watches and high end ones at that do it for the status value.
Besides who can be bothered charging their watch EVERY NIGHT in order to use it the next day. Steve Wozniack said he threw his Samsung watch in the bin after less than half a day as he thought it was next to useless. There is no real need for an iwatch now or possibly even in the future.
To paraphrase the Macalope re your first paragraph: and there's no way that Apple could possibly do something different and better. Just like when the iPod and iPhone came out there were just like all of the other existing products and only sold really well because... ???
As for the nightly charging, previous rumors have said that battery life is one of the issues they wanted to solve before being willing to introduce a watch.
And define "real need". Almost everything in modern society isn't not fundamentally needed, but people buy things they don't "need" for a lot of reasons.