I know that some people feel they still need a watch, either as a status symbol or because they feel it's more subtle in a meeting to glance at your watch than your smartphone, and for them this might be great.
For me, though? I can't say I've fully transitioned to the post-PC era, but I definitely entered the post-watch era quite some time ago.
(Aside: thinking about some sort of crossover of watches and smartphones makes me imagine a pocketwatch where the watch is an iPod nano and the chain is a pair of earbuds, modified so that the earbuds can lock on to each other and thereby clip the pocketwatch to your clothes. Might be nifty.)
I have neither a smartphone nor a watch, but I guess I would prefer a watch because neither the manufacturer nor a third party are very likely to track me or do any other kind of spying on me. YMMV.
If your everyday activities sufficiently interesting to bother spying on, then someone will find a way to spy on you anyway. If they aren't, then I doubt anyone will ever bother to sift through the data to find precisely when you went to the supermarket.
That would probably be true if sifting through these data were a very complicated and thus costly thing to do. But is isn't, especially since you can more or less to it for all of your targets simultaneously. And there is good reason to do it, too: profiles of people are a valuable resource.
I kinda agree with you from the opposite perspective. I wear a watch because watches look cool. But a high-tech watch doesn't look cool, it looks completely naff, and anyone sufficiently unconcerned about looking naff to wear a smartphone-watch won't bother to wear a watch at all.
For me, though? I can't say I've fully transitioned to the post-PC era, but I definitely entered the post-watch era quite some time ago.
(Aside: thinking about some sort of crossover of watches and smartphones makes me imagine a pocketwatch where the watch is an iPod nano and the chain is a pair of earbuds, modified so that the earbuds can lock on to each other and thereby clip the pocketwatch to your clothes. Might be nifty.)