Pretty risky but I like it - if smart-watches are actually something people want, they should replace phones for people who want them at least to some extent. If they're just for gadget people, then they're not the big-deal that we're making them out to be and Samsung is doing it right.
Worth taking the risk I say. I don't believe in the smart-watch market AT ALL, but if it's a game-changer this form of smart-watch is it.