The AW became a huge hit in spite of Ive wanting it to be a fashion item. Remember the $10k versions? The version of the AW that everyone has and loves is not the Ive version.
One could argue Apple Watch has just been coasting on iPhones’ coat tails. People with an iPhone want a watch with similar aesthetics and in the same ecosystem.
If a non-Apple company launched an identical watch at the same time it would have gone nowhere.