Apples and oranges comparison: this is not a watch in the traditional sense. It's more analogous to a timer. In any case, it's a completely new product which means there probably aren't many efficiencies of manufacturing like there would be with watches.
I have not been able to find a good solution to having a personal vibrating timer with me.
Requirements:
Easy to set so no frictional cost to starting a pomodoro for instance. Does not beep. Keeps vibrating until silenced rather than vibrating once and then stopping (I don't notice these).
Sorry, but the price I "specced out" was with the modules from Adafruit. If you actually made a custom PCB, etc, you could easily hit the $50 mark with only 10s of units, in my opinion. Especially since the processor is unimportant: there are no complex calculations to perform.