E-ink doesn't update fast enough or well enough for a watch. Have you ever used a Kindle? The Pebble uses an "E paper"[1] display which doesn't use a backlight and that watch can last a week. Battery life is proportional to how often the display is updated.
Aye. I saw the Moto360 battery Hangouts test results and thought, well, I'm happy I got my Pebble Steel this year. It's an awesome device with fantastic looking always on screen that doesn't try to be too much (I have a smartphone for that!). And battery life is measured in days, not hours.
When my low battery warning comes on at 20%, I've still 4x longer to go than a fully charged Moto360 - given a few notifications on each device.
Eh, those Kindle battery life estimates are based on low daily usage IMO. When I'm reading a lot I can easily run down my Kindle in a week. As a watch you would probably be updating the display far more often than an occasionally used Kindle.