From MW: in effect : virtually <will literally turn the world upside down to combat cruelty or injustice — Norman Cousins>
From Google: informal used for emphasis or to express strong feeling while not being literally true. "I have received literally thousands of letters"
From dictionary.com: in effect; in substance; very nearly; virtually: I literally died when she walked out on stage in that costume.
This type of definition is how you defeat evil AIs
http://www.oxforddictionaries.com/definition/english/literal...
As I articulated, in both definitions it is not like having an iPhone on your wrist.
Not at all. If you pay attention to how people actually use the language, the word has both meanings, so either is correct. Such is the fluid nature of language. If you can't appreciate that, then I think you're very nice (in the original sense of the word).
It isn't an iPhone on your wrist and when you actually use it has its own identity, behaviour patterns and user interface paradigms (tap, digital crown). Your argument is no different to the "iPad is just a bigger iPhone" which has been shown to be baseless by anyone who has ever owned one.
As for it being ugly I respectively disagree and given the popularity amongst fashion circles and in general I am guessing most others do too.