You loose waterproofing, and Moto 360 has a TI chip which makes it difficult to port Asteroid OS to it.
Do you know if anyone documented a previous attempt somewhere? Or do you have any other knowledge that makes you say this will be a problem?
You can try, the sony sw3 has a bcom chip and has still some bugs.
But my question was more about what you were saying about the TI chip, what makes you say it will be a problem? (eg different architecture, known limitations, etc)
but you are rigth on the TI chip. not even wearOS was updated past the release version there.