It tells time with atomic clock precision (because it syncs with one).
Not selling them this year is not a ball-dropping move. It's strategic. Their customers will invest heavily in the new phones. then, next year, the watch will hit the streets. This ensures two amazing quarters for Apple. In the mean time, developers who were not in on the early access program for the AppleWatch will be able to develop for it increasing the number of apps to what will likely be an impressive amount.
AppleWatches will be on more than half of the major hollywood stars at the Oscars. People will flood to them.
People scoffed at the iPod.