I wear a shock resistant dive watch. Quite unlike my smart phone, I don't worry about dropping it, hitting it against solid objects, or getting it wet because it shrugs these things off like it was nothing. I don't worry about losing it because it comfortably resides on my wrist regardless of what I am wearing.
I want a smart watch that is like that.
However, much of that advantage is lost if I still have to carry around a cumbersome, unattached, and fragile smart phone. It is fine to augment the smart phone when the two devices are together but if the smart watch is non-functional on it's own than I don't want one.
If the technology is not up to these challenges (And, frankly, I don't think it is) then it is not up to creating practical smart watches. Come back in 10 years and there may be a smart watch worth wearing. The battery problem may be solved by that time too.