...I think everyone is asking the wrong questions.
It's not about what it looks like to a large degree - it just has to be reasonable, and not fugly (which it isn't - when you see them on people's wrists they look just fine - sure it's chunky but so is my current (normal) watch, it's not unusual).
Given that it is not fugly, what matters is what it DOES, and not even whether it does what YOU want it to do, being a Reg reader, journalist, or paid shill. It's whether it does what existing (and potential) iPhone 5 through 6+ owners want it to, since that is both their target market and a requirement - nobody will buy an iPhone to get the Apple Watch, but if you have an iPhone and you like the idea of being able to quickly see who's calling you before you grab your phone in a meeting, or read that text on the (crowded) train without getting your phone out or track your daily movements to get a little fitter, or get walking directions without anyone in a strange city you're visiting (and don't know how safe it is) seeing you head-down staring at Google Maps on your $1000 phone as you walk.
I suspect that tens of millions of the 200 million potential audience will want this.
It's not rubbish, it's not shit, it's not even overpriced really when you look at the functionality, it's well designed given the limitations of the technology, and it'll be improved on, in the same way as the iPad was, and people should just take a step back and a deep breath and stop with the vitriol.
If you don't like it, don't buy one.
If you do, do.