Seemed quite balanced to me. Basically boiled down to discussing technical challenges and the fact that smart watch sales have been abysmal thus far.

Smartphone sales were downright depressing prior to iPhone, despite Windows Phone, Symbian, Blackberry, and friends giving it a real shot. I guess you could say Blackberry was a success, but it wasn't really the same type of smartphone at all that we see post-iPhone. Tablet sales were basically non-existent prior to iPad, despite Microsoft and several OEMs' offerings.

These pieces always arise when Apple is ready to launch into a product category, but Apple rarely fails here. They have a lot of experience creating and expanding categories in which to make a lot of money. The only real "failure" I can think of is Apple TV, but I think even there they're not really "done" yet.

Don't forget Pippin and Newton. Pippin - the Apple game console - did not have much to offer. Newton - their PDA - had some interesting tricks up its sleeve but suffered from shaky handwriting recognition.