If only for the fact that I can change the face to look like any style of watch or display info in an appealing way, it's been cool. The notifications and voice commands are more like added extras IMO.
I just figure that if I can buy a Timex for $175, a Moto360 for $175 isn't the worst luxury gadget I could buy. The traditional watch has the benefit of years-long battery life whereas mine gets put on a dock when I go to sleep. But mine is also a "Fitbit" and I can put any number of faces on it or spend 30 minutes in Photoshop designing my own. As a gadget lover and hobbyist graphic designer, I'll take changeable faces with neat ways of displaying weather and fitness info even if it means I can't wear it on a multi-day camping trip due to battery life.
One wearable I do like for the innovation is Thalmic's MYO. Before they opened up Raw data to the sensor array, it was pretty much a doorstop. After what I did, they came to their senses. http://hackaday.com/2014/11/18/thalmic-labs-shuts-down-free-...
There's a few other wearables in the class of "first of a kind". Those are the ones I'm interested in. Well, that and computer vision, ML, IoT, distributable computing, and other areas.
I can totally understand that. Even if I know that there will be (are) ways around but as long as not everybody can do it, it's something.
You forgot one:
9. You look like an idiot.
It's the same thing as the smart watches. Suddenly everybody had one but now they become a joke. As well as the people who wear them to work.
They should throw in some more money and time and go for implants.