How did Motorola make the Moto 360?

You're excited, you're amazed, but if you're also reasonable, you're currently very skeptic. If you're similar to me, you're thinking "there's no way they pulled that off. Until I see videos of the real thing working, it's vaporware."

You're also asking: How did they get a round LCD? What’s the PPI? How the hell did they do circular bezels? What’s the color gamut? Battery life? Water proof?

So naturally, I've turned to Google to look for things that would make such a smart watch possible, and came up with this from 2008:

So the technology is possibly 6 years old. Oddly, it's LG made, but LG's smart watch is rectangular. Things aren't adding up.

Is it a gimmick? Do you know of any other sources that would make this watch plausible? Please add them below.

EDIT: The Motorola Aura has been brought to my attention, along with the fact that circular LCDS are not necessarily more difficult to make. I also just noticed that in the video from Android Developers, the watch demonstrated IS the Moto 360.