I don't know if this is a common sentiment — it hasn't been brought up at all in the Apple podcasts that I listen to — but my primary interest in getting a smartwatch is customizable faces. Watches are interesting because they're little mechanical microcosms that sit on your wrist; with a computer, you can simulate the movement and do so much more on top of that. This also has the potential of opening up a whole new app market.
Pebble can already do this (albeit imperfectly) while the Apple watch is years away from having an always-on display.