Yes, bluetooth headset pairing under 70M of saltwater, zippy inertial 3D GPS response for cavern divers, and a suite of confined space apps or the price will quickly fall under the more adaptable e-paper watch's $50.
Or, as you may suggest, move to paired detached cuffs, standalone gothic bowed collar and animal ears (because aren't the good doorknobs $300 MSRP anyhow?)
How do you shut the Pebble off while you are sleeping? Like, on the second nodding chorus of 'Highway to Hell' you have some sort of cue-response with your wrist? [self-caffeination continues]