iWatch + iBeacon = actually useful smartwatch?

All of the smart watches that have come out so far have run into two very basic problems:

1) No applications that are truly unique to smart watches, right now there's telling time and a few other functions that either try unsuccessfully to imitate what you can already do on a smartphone, or even worse, simply direct you to look at your smartphone.

2) The tiny displays aren't at all suited to being interacted with on a regular basis for any kind of complex task, a watch still wants only to be looked at, not interacted with through touch controls all day long.

And this, I'm now beginning to think, is where iBeacon will really shine as a unique iWatch feature. I can easily imagine an iWatch that automatically displays new iBeacon information constantly, based on physical proximity to iBeacons set up around public spaces, like stores or bus stops. Everything displayed on your iWatch would be contextual depending on where you are at the time.

This answers both problems above:

1) iBeacon on the iPhone or iPad is only useful when walking around in public with the device constantly in-hand. This kind of function would be much better handled by an iWatch than either of those devices.

2) You're not touching the display at all to use iBeacon, just walking next to things in public spaces and getting everything streamed to you as-needed. All you do with iBeacon is look at what's nearby.

I'm convinced now that the iWatch is coming, and this will be what really makes iWatch stand out from the crowd. Your thoughts?