There's less dread that you're going to drop and destroy
an expensive heavy device if you focus on your run.
I found it annoying to strap a weight to one of my legs, or have it pound against me when sprinting. So cuffs and straps come into play, and the fun of choking off circulation, all while making it difficult to access any controls.
And again, 400 is a silly price to pay for small tech, but that's not a criticism of watches, it's a criticism of Apple. Did you see the teardown of Beats headphones and their cheap components? There are lots of lousy ways to conspicuously give Apple too much money without watches.
You could get a cheap smartphone and an entry level watch for a third of the price of some people's iPhones, and if you share my somewhat odd preferences, have a better experience for it.
I don't think it's the same experience as running with just a smartwatch.
There's less dread that you're going to drop and destroy an expensive heavy device if you focus on your run.
I also didn't and don't pay anything near your prices, and don't find Apple's aesthetics that great, or Android's offerings that horrible.