The problem with their model is they kept pushing newer watches. I'm fine with my black and white Pebble. It does everything I want. I mean the new ones look nice. I'd get one if I didn't have one already. I still like the design of the original Steel over most of the newer watches as well.
I hope it lasts several more years. They made a great product, and I'm glad they didn't depend on planned obsolescence like the cellphone manufactures that have left us in this Android mess. I wish that model wasn't required for growth.
They should had found some other means to support the company while keeping the wearables as just one of a larger line of products or services. Even something totally unrelated like professional grade home routers or garden watering systems or some other IoT crap.