I'm guilty of exaggerating at times. I'll admit that, but people did make claims that the Apple Watch would be the downfall of the Swiss watchmakers, some even said the Swiss economy would take a hit just like Finland's has due to the failure of Nokia.
People, what people? The only one predicting complete failure was Benjamin Frost, and there wasn't a shortage of people claiming that Rolex, Omega, etc.. would become the new Palm, or Blackberry. In other words either dead, or having a slow death.