Success or failure will depend on attracting an active dev community and easy to use dev tools.
I mostly just use my pebble as a watch with changeable faces(reminders or for fun), daily reminders, and a cooking timer. But it shines when I am driving or cycling and I need to see the start of an SMS, caller ID, or bump the next song on my N900 jacked into aux or bluetooth audio.
I wonder if it will be Pebble compatible as I recall it runs freeRTOS as the pebble did.
If you approach it as a watch not a laptop as Pebble did you can put much useful function on the watch as well as fune but useless fluff.
But it needs an easily replaced battery and a screen connector which doesn't come loose filling the screen with artifacts as Pebbles do.
A backup time-only function fallback with a long life battery for dead recharge battery situations would also be quite useful.