Apple Watch edition a very odd product. If it succeeds, we'll need a new economic term. I propose "Veblen-Moore good"?en.wikipedia.org/wiki/Veblen_go
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there was IAmRich app that cost $1000 and did *nothing*. pulled quickly but sold some copies...
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Compare mfg process with making a do-nothing app. There's at least cost-side diff atomicdelights.com/blog/a-glimpse
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Nobody invests high capex in extreme manufacturing tech required to make precision gold objects for a loss leader.
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MT : If Apple Watch succeeds, we'll need a new economic term. I propose "Veblen-Moore good"?en.wikipedia.org/wiki/Veblen_go cc
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