I think the lack of tying into the OS in the way the apple watch can would hurt it. I think it would more be a competitor for those who like the pebble but want something a littler higher end but cheaper than the apple watch.
It depends...for me, I already have Android Wear, so I would use it for the iPhone too, if I got it, at least initially. Unless the Apple Watch overwhelms me, and I switch back to iPhone.