Try one. Not just a tech toy. You can customize each face with many complications. Add, delete, change. I use these every day, especially multiple alarms and timers for everything from meetings to travel to food preparation. Also have multiple watch faces set up -- just swipe to get a new one -- to provide me with wind and rain reports at a glance, it's fantastic for going out, exercise, and travel.
Finally, the stealth communication abilities: put it in theater mode, and you can get silent notifications about everything, including phone calls, text messages, emails, anything. Do you know how nice it is to never hear the damn cell phone ring or buzz, especially while out? Total game changer.
I said exactly what you did -- until I tried one. I'd try it before you knock it. As for those mechanical watches, they don't hold a candle to the functionality of the Apple Watch, at many, many times the price. But, if you like spending money on them, go for it.