First, let me clarify that I am not a deep user of Apple products or tech geek. To the contrary. But I am a business person observing closely what's happening to industries and their dynamics - and a vintage watch collector (have no modern watches).
I am convinced that Apple has nailed it - this will be disruptive to the whole watch industry, all segments including high end and vintage. Please let me explain why I think that way.
The whole discussion in the moment (see this thread, other blogs, etc.) is focused on 'horizontal' implications, i.e. from a time perspective. How would it affect current users of below 1000$ watches, would they substitute? What about people who consider a luxury high-end watch? Etc.
But the much bigger disruption in my opinion will come 'vertically', i.e. by influencing future generations and users and totally changing their view of what a watch is or 'was'? I just look at my children, basically young teenagers. They have been over the last years so influenced by what Apple has done - for them a life without Ipod or Iphone (they don't even care about computers anymore or laptops - which says a lot) is not imaginable. BUT: they still had their cheap children plastic quartz watches and - in a world without an Apple watch - might have become young professionals becoming interested in mechanical high-end watches, then vintage etc. Now, they will get used to the WATCH, and undoubtedly (I do think Apple has nailed it) it will become as essential as the Ipod or Iphone to them. And...at the end of the day, we all have only 2 wrists and only 1 really to strap something onto. Which means, the next generation will not even think about what putting on that wrist - it has to be the WATCH. No more space, or thoughts for something else. The same way that none of my children even asks for a computer anymore, as long as they have their Ipod or Iphone. They wouldn't care about high-end must hifi-equipments, or cameras (like Leica) anymore ....it's all in this one device, "you don't need anything else".
In my view wrist watches will become pocket watches - not something 'wearable' (because you of course wear the WATCH with all the functionality you will think you need - mindset), only something 'collectable'. So, there will still be a market - but it will affect prices and demand. And we all know that in relative terms, pocketwatches are much cheaper than wristwatches (in relative terms with same complications) because they are simply not wearable. I think it will over the long-term even hugely affect the prices of vintage watches - why? Because when this generation inherits the collections of their parents, they will simply see mechanical watches as something which is not 'wearable' or 'usable' anymore. Up to now, when you inherited a valuable watch, most still keep it because once in a while for an important event, "I will wear my fathers watch". In future, only few will think that way. It will be like inherting a pocket watch right now - a nice piece, either put it in a drawer or why not sell it?
Anyway, I think each time Apple innovations have been far more disruptive than anyone had imagined at the time - I do 'fear' it will be the case again and the implications over time will be more significant for also high-end and vintage watches than we can imagine.
Hope I am wrong though....