iPod = iWatch: Is it crazy?

Here's a theory I came up with about Apple's upcoming wearable that may or may not be crazy. What if the traditional iPod line is discontinued next year and reborn as a nano-style wearable? The new iPod would be an iPhone accessory and perfect gym companion, like the 6th-gen nano. It would clip to a pocket or wristband, play music, access Siri hands-free (kind of, if you don't count raising your wrist to your mouth), and never have to sync to iTunes because it would get all its data from your phone. The iPod touch, which is the only iPod really selling any more, would be rebranded as an iPad nano (terrible name, I know, but I couldn't come up with anything better). This way, Apple could keep around the legacy of the iPod brand, enter a new product category, and get rid of iTunes syncing for good in one fell swoop.

So what do you think?