As mentioned by Terretta and the original article, serious watch lovers have collections of watches. They could buy the watch just to add to the collection, worn as a conversation piece in addition to its smartphone peripheral feature.
Aside: I was totally surprised by how similar the watch looks to the original iPhone.
You really shouldn't use the character online. It's part of the "private use area", so different vendors are free to interpret it in different ways. On most systems, it looks like "□ watch".
I see some sort of hieroglyphic character that looks like a seagull over a pistol over a sort of upside-down fishhook. I have no idea what languages use this glyph.
Aside: I was totally surprised by how similar the watch looks to the original iPhone.