If there is one small thing you did not knew about Android Wear, then its the fact that all the watches has Wi-Fi on board, they are just not enabled yet. As of now all of them work using Bluetooth, but the next software update will change this. It will enable two things. First is the WIFI support and the second will be gesture control.
Enabling Wi-Fi support will be a major improvement which will allow services like google now and apps which can directly connect over WIFI instead of depending on phone to get their job done. I have seen a lot of apps not working because the internet in the phone was underplaying. This will solve that. Next in the update row is gesture which users can use to flick through notifications or scroll instead of swiping everywhere on the screen.
That said, I am getting more worried about the battery life here. Bluetooth Low energy should be consuming less power than WIFI, and with the update enabling it might just impact the battery, unless Google is rolling out some firmware update to get this covered.
Apple launched their watch yesterday, which claims to have a day of battery life, and already support gesture in form of messages where you can draw and so on. Lets see if the Apple Watch move can shake up the Android Wear ecosystem a bit.