What do you call a bracelet with a touch screen? Semantics, anyhow.

I believe that they're already doing tooling for it at the manufacturing company where I intern. So don't make that bet with too many people

a watch is a wearable bracelet that just happens to tell time, and often a few other things.

Watches made the transition from time piece to jewelery many years ago. With the time being ubiquitously available watches have been relegated to being a "wearable bracelet" (is there any other kind?) - A Rolex submariner, for example, does the exact same thing as a $5 plastic cheapy, but people still buy Rolex and all the other > $5 watches as jewelery (i.e. social signalling of status)

Why wouldn't they include the time on a wearable bracelet?

Personally, I can't agree enough with this. Positioning the wearable as a "iBracelet" means that it can be work at the same time as a consumer's watch; whereas an "iWatch" potentially limits the market.

That said, I can completely understand the position of making an iWatch and forcing the choice between existing watches and Apple's. However, to me it's better to competing with fitbit than rolex.

The bet has to have a deadline or noone will be eating steak or sushi.