I think they missed the opportunity to make this a smartphone. Humans are obsessed with their screens, and taking away the visual appeal of a smartphone is questionable. Although the target audience may be people who are actively trying to use fewer screens so, owning this alongside an iPad could work for some people.
I disagree. Smartphones are very entrenched and a personal fashion statement in some ways. It's near impossible to get even a basis point marketshare in the global smartphone market. A wearable form factor is the right approach, though a pin feels like a weird choice - as opposed to a watch, earbuds, glasses etc.
