If Apple had created a watch where the face was the shape of the apple logo, that would have made me sit up.
LG have managed a round interface, so it just seems to be a lack of imagination on Apple's part that they failed to revolutionise smart watches in the way that previous products have. The Gear S is going to be out before the Apple Watch and I would be more likely to get that, if I were interested at all.
A watch is a fashion item, therefore how it looks is more important than what it does. The scattergun designs seem to acknowedge that but without managing any real desirability on its own merits.