I've been around long enough to remember the Texas Instrument L E D digitalis of the early 1970s. You could go to Woolco or Kresge's (remember them) and buy one of these for half or less what one might have paid for a Bulova mechanical or an Accutron of the era. I remember the hand wringing in the watch world at the time, predicting the disappearance of the then accepted examples of watch ownership. The L E D didn't last long! The same phenomenon happened when the cheap L C D landed in the market place. At one time, I remember when you could buy an L C D watch for $2.95 with a fill up at some gas stations! Of course, there were a LOT of changes back then! Accutron had owned the electronic watch market, and it disappeared. So many watchmakers went belly up, and we all know about that! But in spite of all the turmoil in the past, and perhaps because of how it all shook down, I don't think the Apple Watch will demolish the market for the traditional watch. this opinion offered by someone whose newest watch is 27 years old. For what it's worth!
And finally, I am kept very busy resurrecting older watches for people who have made do with cheap Quartz watches, or no watch at all, for decades. Why? Al these modern gadget watches do a lot for the wearer, but in my view, they lack esthetics and interest such as is provided by traditional watches.