Based on what I saw, Apple Watch seems to me, a lot more than just a notification device that Android Wear is.
Additionally, there's nothing in Android Wear that I've seen that focuses on the watch being, well, a watch. All the straps sucked, we don't know if the time is precise (this is the first thing Apple said about the Apple Watch), and most importantly, none of the watches out focus on user experience at all. They just wanted to be first out.
that's really the salient point isn't it? Apple's playing catchup, but shooting for targets that probably aren't all that great to begin with.