In the case of wearable computing, customers didn't say they wanted to wear their phone on their arm or strap a phone to their heads. They wanted hands free, no fuss, error free access to information. Same market as stuff like Siri or Kinect. The problem is simply the implementation. Trying to tap on the little watch screen is god awful. Trying to get Siri to understand what you want as soon as you try to ask for something useful is almost impossible. The implementation falls down hard - hard enough to be unusable.
Same thing for mobile browsers. I remember really wanting a pocket version of internet explorer because of how useful it would be. Actually using it on the old Windows Mobile devices was basically impossible though because the implementation was terrible and unusable. Today however, I use my mobile phone's browser all the time because the implementation is good. There was nothing wrong with what I was asking for - quick pocket access to the web - but there was a lot wrong in what Microsoft thought I wanted - a handicapped version of their web browser that didn't work.
Talking is not listening or understanding. Wearable computing will definitely be a major hit once someone works out a good implementation.