I have the Pebble Watch and I have enjoyed using it. While limited in functionality, it gave me a lot of what I wanted. I wanted to be able to see what Text/E-mail/Notification was without having to take out my phone all the time. I also used a few of the Apps, I loved the additional watch faces you could get. The Apple Watch has so much more functionality then the Pebble, so I'm really looking forward to getting it. Is it a necessity? No. However for what it is, its wonderful.
I really reminds me of the first iPhone. All people did was complain about what it didn't have, people are doing the same with the Apple Watch. Over the years Apple has added feature after feature to make it better every single time. The same thing will happen with the Apple Watch. Yeah the battery life won't be great in version 1, yeah it could do so much more. The same way they redefined Smart Phones, Apple will do the same with the Apple Watch. It make take till generation 2 or 3 to truly be the thing everyone needs, like the iPhone but I'm confident enough in Apple that is where it will go.