I still am convinced it will happen. It's just a matter of time. Eventually they will run out of new features, and this will be their big play.
There are 2 main non-health sensor based features left (the way I see it), an integrated camera for FT, and a battery that can last long enough to support it's use.
They will keep adding health features as the technology supports it (Glucose level, Blood Pressure, Body Temperature,...)
But mark my words, it will be added, and as other have stated, Apple can put strict regulations on developers, it will not be the wild west of deployments.
Regarding the Hermes editions, I have to be honest. I live in Nassau County NY (basically a suburb of NYC where property taxes are very high), and spend a lot of time in NYC, of all the apple watches I have seen, I have yet to see a Hermes edition out in the wild. Nike, I see all the time, and how much more money could Nike/Apple make if they made the face available to a watch face store? (disclaimer: I may have seen a Hermes edition, without a Hermes band on, but I always look at the screens if I can to see what face people use, and I never have seen the Hermes screen in public)
The Nike watch face is a perfect example of a watch face that could be in a watch store for $0.99 that would sell, to almost every non-Nike edition apple watch... Right now, there is no additional cost for the Nike face, you just have to select a model at the same price.
Also, if they were so worried about taking away from these Editions, you wouldn't be able to buy these bands as accessories... And the Hermes editions, the price difference is basically the cost of the band.