Apple Watch has a water resistance of IPX7, that's the same as a Garmin, for example. It is fine in a shower. There's no point comparing it to other sport watches because unlike the Apple Watch, they can actually be used under water. A smart watch (at least one with a capacitive touch screen) cannot. Why make trade-offs (e.g. making it bulkier, perhaps) when there's no benefit?

Addressing your second point, there certainly are touch screens that work whilst wet - however I suspect there will be significant draw-backs, such as responsiveness, colour clarity, etc. Again, I don't have the details but if Apple could make Apple Watch usable underwater without any compromise, I'm sure they would have.

However, it would have been interesting if they had released the "Sport" model as a bulkier, water-proof version, leaving the regular Apple Watch as the dress watch. There certainly could be interesting applications for divers, etc.

Edit: check out this review of the CAT phone you linked. http://www.cnet.com/uk/products/cat-b15/

"Very poor screen" and "The screen has been designed to operate when wet, too. You can't use it underwater, but it's fully functional when covered in flecks of water". As subnaught says, it's all about trade-offs.