Android Wear: is it time to pass on Google Glass?

Google's announcement of Android Wear yesterday caught the attention of the tech world, with its slick display of what they envision for their smartwatches of the future.

As cool as it may may look, what does Android Wear mean for its controversial cousin, Google Glass?

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via o.aolcdn.com

Is Android Wear an admission by Google that Glass was too ambitious and futuristic for today's world? Is this a response to the recent negative publicity that Glass has been receiving? Or is Google simply attempting to remain competitive in a market led by rumours and vapourware?