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This would be incredibly dumb of Apple, and just serve to piss off their early adopters. Especially people who lay out money for multiple bands or more expensive ones like the link bracelet.

People are already hesitant to buy more the more expensive options because they will be outdated by new releases in less than a year (With shipping times now in June for new buyers...on launch day.) It would just be a terrible move.
 
You just know it's gonna happen :(

Definitely won't happen. They'll only do that once the ecosystem is stable enough, and enough people are on-board, to support the change. Next year's model will be refinements to bring on new customers, not fundamental changes to attract upgraders.
 
I don't think this is very likely at all, if you look at the phones as an example they will keep the same case for 2 generations as least.

Once they pay for all the machinery and setup to makes cases and straps a certain size making them the same for an extra year at the scale apple produces probably saves them a ton of money.

I thinks this is why the phones have the same casing for 2 generations, Apple simply makes more money that way.
 
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