I think
@mountainbikermark hit the nail on the head perfectly. If you're not the type to use Google Now for quick searches and/or reply to texts via voice-to-text, a smartwatch will likely never be the device for you. I've only really done the latter since getting the G Watch.
I think there's a fine line between form and function with these devices, just as others here have stated. You want the screen big enough that you can easily read it, but not so big that it looks like you have a phone strapped to your arm. Just as Mark said, I believe you want that full screen experience, without a tiny, almost unusable keyboard.
Even the calculator app I have on my G Watch has tiny buttons. A full qwerty keyboard will either be so small that you can't easily hit the letter you're looking for, or will take up the entire screen, plus have to be scrolled as it is in Wear Internet Browser.
Are smartwatches ready for mainstream? Or, maybe the bigger question is, is the mainstream ready for smartwatches?
Having been an early adopter of smartphones, I've lost count of the number of people I know who swore up and down that they had no need for a smartphone and would never get one who now have and love having one. It may not be for everybody at this point, and probably never will be, but I think it'll be adopted more and more, as long as manufacturers do their part to put them in attractive packaging.
I think this effort by LG looks really sharp, but it feels to me like exactly what it is, a LATE first gen device. I don't think the G watch R has competed with the Moto 360 in the way they had hoped it would. I, for one, love the R's fully round screen, but hate the numbers and tick marks permanently on the bezel. That's what faces are for. However, the R, to me, appeals to people who prefer a more sporty watch, while this new offering, (again) to me, appeals to a more "sophisticated," dressy crowd. Smart move on LG's part, if you ask me.
I am concerned about the screen size though. As stated previously by myself and others, too small makes it not worth the effort to use and too big makes it look ridiculous. I see this with many faces I download to the G watch that were meant for a round device. Squeezing the entire circle into the square of the g watch's screen leaves smaller fonts and dials unreadable for sure.
IMO, no one has gotten the formula 100% right so far, and the software is still in it's infancy. We're looking at the equivalent of the G1 as far as phones go. Maybe that's where folks like myself have a leg up on others whose first android phone was a member of the Droid family. I remember exactly what android was like when it first came out. This is a better, more polished start than android had in its beginnings and it's still young.