I'd love to see the Pebble hardware running Android Wear (maybe fixed by Fitbit to last longer) with Pixel branding. I'm hopeful.
That's the really impressive achievement of Pebble. They built a smartwatch software platform that was orders of magnitude more efficient than Apple or Google, but still a joy to use. That efficiency gave them the flexibility to make hardware design choices (e.g. 7 day battery or 7.5mm thickness or $99 price) that Google or Apple could never make.
I can make a Pebble app that feels complete without doing any real design work. Because there's not much design that can be done.
I'd be really excited to see something similar in a more traditional watch form factor.
That was the magic of Pebble: fitting an honest-to-god smartwatch on the hardware of a fitness tracker.
I actually think google would benefit from differentiating their consumer tech from their search/adwords products.