I suppose the different types of 'buzzes' might make it easy enough to ignore most notifications without looking, but it remains to be seen if this is how it actually works.
I do think over time we'll learn to deal with these kinds of things. Already we're (slowly) developing etiquette about how we deal with phone notifications, but especially initially it seems people are slaves to the whims of new inventions.
I've seen this pattern with 'regular' phones, for example. In holland I grew up with very clear etiquette of how to communicate by phone. Generally speaking, you pick up and say your name, then the other person says their name, and then you talk. You also don't generally call during dinner time, very early in the morning, or during the night. That this isn't 'natural' behavior became apparent to me when I lived in a country where phones were kind of novel. People would just call each other up at random times and start talking without introducing themselves, causing frequent miscommunication.
Perhaps the apple watch will function in such a way that it 'coaxes' users into better behavior. I certainly hope so. Otherwise, it will just take time for society to develop a proper relationship with our attention-grabbing devices.