I've seen commentary that it's "disappointingly familiar", i.e. it looks just like several other computer watches, like the Pebble or even the iPod Nano attached to a strap. Or that it's Much Ado About Nothing. But I think that commentary misses the point, because it focuses just on the hardware.
It's true that the Apple Watch hardware, at first glance, is kind of boring. I am really sorry to have to say that because it does seem like some world class design went into it, especially the amazing collection of straps, one more beautiful than the next. But still, it looks like a little rectangular computer thing on my wrist. That's the hardware.
The software on the other hand is a breakthrough. I haven't played with it but I sense that it contains one new invention after another and it will set a whole new standard that others will definitely imitate.
So my prediction: the Apple Watch is like the first iPhone. In retrospect a little clunky, maybe a little slow, maybe without the battery life you would like. But it is a foundation on which will set the standard for wearables for a long time.