Yes, this isn't an alternative to Android wear or Apple watch, just more of the same. Fun fact: a few months ago I was looking for a wearable which had the option to store data locally - I looked at dozens of products and only three of them offered this. One needs a Windows app to transfer data over USB, the other is the Oregon Scientific Dynamo, which has a rather poor iOS app and is quite bulky and imprecise and the third one had a terrible companion app.
Everything else had a mandatory cloud sign-in and sync, with the typical meaningless privacy policy.