Smart watches were always going to be a short lived fad
I have always said this about smart watches. People willing to pay these amounts for watches are NOT the sort to consistently buy minor upgrades. The watch market is full of collectors and people who value genuine build quality and superior design. On the high end of the spectrum, I know people who would never even consider letting a smart watch touch their wrists. On the low end, there are those who would never even consider paying over £30 for a watch. And in the middle - what use does a smart watch have over the phone you carry with you any way?
If you wear a watch, you most likely wore one long before the smart watch became available, and you most likely don't want to get a "smart" replacement. I have a citizen eco-drive; solar powered and uses radio waves to keep up to date automatically (which means it auto updates when I travel, too). That's as smart as I need.