Well, the waiting part has been working okay for Apple so far:
MP3 player -> iPod
Smartphone -> iPhone
Tablet PCs -> iPad
Ultraportables -> Macbook Air
It depends on the product and how you deliver it.
And yes, I don't think there's such a thing called an iWatch. The iWatch is just a rumor conjured up by the tech bloggers and repeated so often in their own echochambers that they themselves now believe it's real.
Actually I think the Macbook Air was the first device in that category, that Intel called Ultrabooks. Netbooks were around, but they tended to be limited hardware with poor performance.
But generally I agree, Apple are rarely first, they care more about getting it right rather than spec sheets or shouting 'first' (they're not perfect e.g. there's much better options for a UK viewer than the current Apple TV).