Even with the Apple Watch, some of them look beautiful imo: http://i.imgur.com/qGvqIqK.png
http://www.iphoneheat.com/wp-content/uploads/2014/09/apple-w...
http://images.chinatopix.com/data/images/full/11317/apple-wa...
When it comes to watch design, circle != automatically good looking, in my personal opinion, the Moto 360 is very cool for being circular, but the casing itself looks like one of those $100 dirt cheap Movado-lookalikes that you can get from an outlet mall.
It has something to do with the combination of the thickness, and the specific rounding of the corners and sides, that I find off-putting aesthetically.
I want to wear a watch, not a gadget. So I want the technology to be submissive to the watch. When you look at what is on my wrist, I want you to see a watch, not an iPhone mini-mini posing as a watch. We're still a decade away from this being possible.
Though I do have to admit that going into this thing, my guess was that they'd be using a new color e-ink display to save battery life, not a "raise your arm to turn it on" sensor.
The iPod Nano with a particular after-market watch band was quite popular at the time.
The Moto 360 is the only competitor in looks, and it does indeed look great in renders. The problem is that it actually looks horrible (IMHO) in person. It's huge -- really massive. Nobody with a small wrist can wear a Moto 360 without looking a bit dorky. The strap attaches to the watchface at the very bottom as well, and it's a very thick watch, so the thickness is just emphasized in a very bad way. It's a bug chunk of metal sitting on your wrist on an inelegant way.
Apple is trying to reinvent the watch, not the LCD. The Apple Watch is capable of so much more than a mechanical watch. Why would they needlessly adopt the limitations that would come with a round face?
For a company that wanted you to think difference, which I interpret to mean "don't be a square", all this squareness and market conformity is really disappointing.