It's pointless, but it highlights the issue Apple is going to have with perceived value.
If you're the kind of moron who spends $$$$ on a blinged-up wristy time keeper, you'll go for one of the big name brands, pay the silly money, and have your silly toy to impress other silly people.
But the Apple Watch isn't that kind of blinged-up wristy time keeper. It's basically an iPhone accessory, not an heirloom wannabe.
Apple have always done brilliantly by creating the illusion of extra perceived value for computers and phones. The illusion of being cool and fashionable has been implicit, which is why it's worked so well.
Now with Watch (brilliant name, btw) Apple are trying to make the illusion explicit, and to move the Apple brand out of tech and into mid-market fashion.
Bad move, IMO. I don't think it's going to work, because the illusion only works as long as it's not conscious. And the fashion/status market is so very different, with different rules.
So when a company that basically does tech says 'Oh hai, we r the new fashion leaderz' everyone is going to be like 'WTF? Seriously?'