My current smartwatch is $7 I got from the thrift store. Not only does it offer everything an Apple Watch offers, but it also measures blood pressure (surprisingly accurate) and has a small flashlight, and I charge it once every 3 weeks. The only issue is its app is limited and you can’t customize anything besides the watch faces and the wrist strap. So having that, it’s really hard to compete if you are just going to offer another smartwatch, which is a great strategy to open source the software and allow customization, even on the hardware level to some degree. Myself and a lot of people would be interested to have that!