My big "problem" with this product is that to me it makes no sense. See, part of the reason why people will pay $10k for a watch is because it's a piece of jewelry that performs a "timeless" function using high quality mechanical components which will likely always be repairable as long as the watchmakers craft continues to exist (and with all those watches out there, especially expensive ones, it will likely do so). See, investing in jewelry is not just about the bragging rights, it's an investment as the materials are inherently valuable and will retain value, in many cases they will increase in value. It's a way of not just showing off, but also of storing wealth in a physical form that isn't dependent on banks, investments, or even currency. Your big gold watch is still a chunk of finely wrought gold that does something easily understandable, so if you lose your money, your country gets conquered, or you even need to trade something, right there you have an item of value. While mocked in movies there is a certain logic behind a rich guy offering his watch to someone as a bribe, and honestly having something like that for situations where you might need to make a quick, desperate, trade is actually premeditated. After all if you have some rich dude as your prisoner, and know who he is, him giving you his watch in exchange for letting him go might not be a bad deal. Unlike the movies where the bad guys figure "well, we'll take the watch AND pursue the Ransom" that's always touch and go, and having say $10,000 in your pocket, relatively risk free since you will have lead time to disappear can be tempting. Ditto for trading one for a car or whatever other kinds of situations you can think of.
The problem with a watch like apple is producing is that it's too technological, tech increases at a break neck pace, and within 5 to 10 years this thing is going to be obsolete. In 100 years the services on which it depends probably won't exist anymore. The watch thus becomes an oddity, and will probably lose all value other than that of the metal used to make it which is doubtlessly far less than the $10,000 asking price, where in comparison just a regular watch will retain the value of it's craftsmanship. A watch like that in 100 years will probably be worth more than it is now, and it's already worth more than the metal value (which is still likely substantial).
I could be wrong, but I suspect it won't take off as a lot of the people who invest in jewelry and such are probably going to be thinking a lot like I am. This watch can't be promoted as an investment or something that is going to maintain it's integral value.
Look at it this way, on the show "Pawn Stars" someone brought in an old Gold Plated Walkman, from a very limited run from an old contest or something. At the end of the day it wasn't worth that much because it's obsolete technology and there wasn't much gold value in the item. The same likely applies to these watches.