I don't necessarily understand the reasoning behind the statement "It doesn't do anything different than any other smart-watch on the market"? By that same logic, then basically all non-smartwatch companies should just give up because 99.99% of their watches do nothing different than what is already available. They all tell time.
I understand there is an expectation that Apple should defy the laws of the universe whenever they come out with a product, but asking for that in something that is rather basic is a little much. The Apple Watch tells time and gives you notifications with limited interactions, just like any other smart watch.
However, and of course this is up to personal taste, what they did differently was create a beautiful watch. I own watches, about half are square/rectangular and the other half are round, so that aspect of it makes no difference to me. I think the design of the watch is gorgeous. It's very simple, it appears as if it has that same seamless flow that the edge (where the screen meets the body) of the iPhone 6/6+ have. The digital crown looks elegant and thoughtful because it reminds people that it is, indeed, a watch. The faces they have seem clean and refined, but also some others to please the more playful.
Moving onto the bands which are of much debate, they are quality bands. As most have stated, they're overpriced. However, as others have said, for this quality, you're getting what you pay for. Yes, the bands can be made for a lot cheaper and they could have sold any of what they offer for less than $50 (probably). But they would have felt cheap, they would have been cheap, and they probably wouldn't have lasted. You'll be able to get cheaper 3rd party bands when the watch comes out. When that day comes, feel the difference between the leather Apple uses and the leather you get for $9.99 off of Amazon. Then you will understand.
I am not saying that the other smart watches out there are bad quality, or cheap. But I think Apple has gone above and beyond with the quality and care they put into their watch. That is what they did differently. Beyond that, it's just a watch. Nothing to blow minds or bring world peace. But a device that tells time.