The likely reason Masimo made the strategic choice to sue for for unjust enrichment instead of damages is that damages are limited to the license fees Apple would have paid in the alternative world where they sought a license. That's a relatively small amount of money compared to what Masimo is no doubt hoping to extract by blocking Apple Watch imports.
By the way, a court would not have enjoined Apple from importing or selling the Apple Watch. Masimo has a very small domestic consumer-facing industry putting their patents into practice and they they already license their patents to others, demonstrating that they could do so here as well. The ITC was the only place they were likley to get that remedy.