The nice thing about a project like this is that it shows how much taste matters in engineering. 'Works' and 'you'd actually use it' are very different milestones.
This watch shares a lot of visual characteristics with something like the original Casio GShock. Just because it doesn't look like a modern smart-watch, doesn't mean it's ugly. I quite like the rugged aesthetic.
This is mean-spirited and daft.
This is a product aimed at a very specific hobbyist segment of the smart tinkerer, who will probably get more joy out of it than most buyers get out of their Apple Watch. Is that a smaller market? Yes. That doesn't make it a bad product.