Smart watches should be simple
Produce a watch which lasts at least month on a charge, tells the time from an always-on, glare-free screen, doesn't requiring tethering to a proprietary app, phone operating system or app store / cloud service and we might be getting somewhere.
That doesn't prevent the watch from linking to a phone and streaming songs or showing messages / reminders over bluetooth. But the device itself itself should operate independently of the phone and when it does interact it should be over standardised profiles.
That's a smart watch.