The iPhone 6 will have a million times the technology of your pebble, as well as many, many more design considerations. I own a pebble too (and love it) but the "my pebble is waterproof so the iPhone should be too" is a pretty weak and naive argument. The pebble is made entirely out of plastic, and has zero ports- no headphone ports, charging ports, speaker holes, microphone, sim card slot, etc.
And for those calling this phone "ugly", the iPhone 3G was called the same thing when shown off, the iPhone 4 was labelled an atrocity based on leaks (and now considered the benchmark and probably the most gorgeous phone of all time), and the iPhone 5 was called ugly too. Enough with the kneejerk reactions.
I had and liked all previous versions of iPhones - but I don't like the bands on this ugly mockup. As far as compromising..... No way, I would not want to compromise... The technology could be available....