I've been following this pretty closely, such that I was able to get in on the $99 super-early-bird price (just barely), and I'm actually pretty excited about it. My job requires that I carry a work phone, and I really don't like having any personal stuff on it (music, podcasts, etc.) but at the same time, I also don't want to carry around a whole second phone for that sort of thing. However, a smartwatch with an SD card slot? That should work nicely. It's got WiFi and Bluetooth and a USB-C port as well, so it looks pretty versatile.
As for actual gaming on the 1.63-inch (4.14cm) square screen, that will take some convincing. I don't play any smartphone games, and haven't played a game on a watch since I was in the 7th grade, but I see how some Atari games could be conducive to the smartwatch format. Breakout, for example, would work well using either the built-in motion sensor or a finger.
The other side of the watch-gaming
coin token looks like a game delivery platform called PixelFurnace, which can be installed and run directly from the smartwatch's storage when plugged into a computer (Windows/Mac/Linux). You could, I guess, run Atari Vault or whatever on any computer without having to install it on the computer itself.