Well, I spent half that to push my notifications to a wrist mounted contraption (a Pebble) because I commonly miss notifications delivered to my phone -- the vibrate's not powerful enough for me to notice more than half the time, and the audio alert is sometimes muted and other times inaudible due to a noisy environment. OTOH, I've never missed a notification delivered to the Pebble when it was on my wrist. Sometimes the notifications are important; I don't like missing them.
As for people who have declared that the wristwatch is dead because they don't wear one, they shouldn't wear one.
I do think the Samsung looks to be well wide of the price/utility mark, but hey! to each his or her own.