But I do see them competing with Rolex, Omega, Tag Heuer, Breitling, etc. in the very high end watch market.
Really? Your going to compete the Apple Watch made by Quanta Computer with a high-end Swiss watch? I'd accept maybe a low end Swiss watch with a quartz movement, but certainly not one of the automatics. Definitely not any of the brands you mentioned.
Heck, the machining and finishing on those watches costs more than the Apple Watch. (maybe not including the absurdly priced Watch Edition... and by that I mean production cost, not MSRP)