Are 'smartwatches' just tech-media hype?

The advantages of having a PC on your wrist (a smartwatch) compared to in your pocket (a smartphone) are really so minute and (for the foreseeable future) come with so many compromises, is there really a comparably large market worthy of all the coverage, or are we just seeing slow news days now that the smartphone hype is plateauing? (

By 'smartphone hype plateauing' I don't mean the growth of the market, just the normalizing of previously interesting news stories like 1080p screens and 20 megapixel cameras - basically, are tech sites trying to shoehorn smartwatches into their new darling? Definitely feels that way from my end, atm I just these watches as unnecessarily consumerist/bourgeoisie (