I agree with all points except when you assume 'wearables' implies 'watches'. Similarly to payments, the health benefits can be delivered with a much smaller device. If health is the main benefit than that big gorgeous battery-sucking screen is a waste.
True. I would think the watches category will continue to occupy the pretty good/general tracking and health stats market (which should be huge) and, as the tech advances, there will always be smaller, screenless, more accurate detectors for specific use cases.
I am still amazed that my watch can track my laps while swimming (very accurately) and simultaneously track my pulse (less accurately, but that'll improve). And keep my calendar, deliver notifications, etc...
If you want to go beyond just counting steps and track actual activities (running, cycling, swimming, hiking, golf, etc) then you need some kind of display with buttons or touch screen.
