What you've said can and does work for telling time, but from watching a few of their videos it looks like the watch part of this device is a secondary function. It connects to your phone and will display the caller's name or text messages like other smart watches, but in braille. I can't read braille, so don't know how effective that is with the limited space. It would be interesting to hear from a blind person what their current state of electronic connectedness is since this type of device is supposed to improve the parity between blind and non-blind individuals.

One of the cooler things mentioned in one of the videos (https://www.youtube.com/watch?v=zmpl81WmFSo) was that they developed their own magnetic actuators that are a 10th of the cost (if you believe the marketing) of existing ones. I haven't verified any of those claims, but if true does mean their braille tablet could be an affordable reality.

There is a second ring on the watch the runs along the edge. If you look at the 2 o'clock position you'll see the second ball.