Is there more to the Apple Watch?

I've just read John Gruber's article about the Apple Watch. Unsurprisingly it's a good read. He has some interesting thoughts in terms of pricing which I think are probably realistic.

Instead of usual $100 increments ($349, $449, $549), he is more predicting factor of ten increments ($103, $104, $105). And a rabid response from the tech press:

When the prices of the steel and (especially) gold Apple Watches are announced, I expect the tech press to have the biggest collective shit-fit in the history of Apple-versus-the-standard-tech-industry shit-fits. The utilitarian mindset that asks “Why would anyone waste money on a gold watch?” isn’t going to be able to come to grips with what Apple is doing here. 

Also, he is expecting Apple to show something more significant early next year when the final product is released:

But I get the impression that they’ve only shown us the tip of the functional iceberg, simply because they wanted to reveal the hardware — particularly the digital crown — on their own terms. The software they can keep secret longer, because it doesn’t enter the hands of the Asian supply chain.

I accept that there is likely to be more features when the final product is released. However, I would also expect to have been sold on why the device would change my life (like the iPod, iPhone and iPad). As I said in my piece on the Apple watch, this was missing last week, and I'm pretty sure it'll be missing next year.

There are clearly going to be more unannounced Apple Watch features but I don't think they are going to get me excited. I'm hoping that I'm wrong about this but my wallet is hoping that I'm right.