Google Glass's failure was a story of a visionary product utterly failing to be cool.“ He's not the only one criticizing. Fast Company describes the watch as "boring”; compared to the launch of the iPhone, the Apple Watch is “Samsung Galaxy Gear dipped in rose gold, the blush wine of the precious metal world.” Mused Alexander Fury, fashion editor of the Independent, “I don't think Rolex [is] quaking just yet.”
Per the article's premise, I don't think Apple really gives two hoots and a holler about the high-end fashion industry other than to temporarily borrow their perceived approval to establish the Apple Watch as an object worthy of aspiration. The Apple Watch isn't about disrupting the fashion industry or even the watch industry, but is more a value added proposition to the existing Apple ecosystem, another arrow in their quiver of high margin consumer technology whose side effects include possibly buying additional high margin Apple products, additional Apple Pay transactions (and thus transaction fees), and more App Store purchases.
I do however agree with the above critique of the Apple Watch's design. It is… more than a little boring.