I just see this thing as market challenged.
It is ugly. I don't see users compelled to replace their elegant watches with this.
Its functionality is slim enough that it doesn't compel replacing a watch (or lack of watch) just for the functionality. Remember those calculator watches? Yes, they did more than a watch that just tells time, but the trade off just wasn't there. These watches may have some functionality for the heart rate and fitness portions, but there are better products focused on that at a much lower price point.
What does impress me about the watch is simply the specs. It is rapidly advancing to the point where it replaces a phone rather than is simply an add-on.
What is really bizarre to me is Samsung's choice of Tizen. As a disclaimer, I'm neither a Samsung, Google, no Apple hater. Tizen has some great potential in theory. Write once, run on any platform (Tizen, iOS, and Android) sounds great on paper- but usually ends up in apps that just don't feel like native apps. Samsung pushing its openness is obviously a bit of a joke, they are going to lock in their crappy software more tightly than they bloat other OS's. Too bad :( Allowing Android to run native on it is double edged, much like Windows debating adding it to PC Windows. If you can write for Android and have it run on Android, Windows, and Tizen, why bother with native Apps if your resources are strained?
I'll take a look at Tizen as a curiosity, but what doesn't make sense to me is they sell it in a watch that only works with Galaxy phones which run Android. Limiting their market to a small subset of people and then giving it a different OS than those people are already using just seems a little boneheaded.
They may (finally) introduce a Tizen phone this year, but it really should have been done concurrently with this thing if at all.