The Apple Watch is a watch in the same way the iPhone is a phone. Yes it tells time, just like you can call with an iPhone. But I guess when you ask an Apple Watch-user what they use their watch for in a couple of years, telling the time won't be the answer you'll get.
That said, I saw the appeal of an iPhone from the get go, it allowed us to do things we just couldn't do previously. The Apple Watch? I don't get it (yet).