The original article makes a big deal of the demise of Pebble.
ZDNET has a more specific (and realistic) explanation that doesn't rain doom upon the idea of gadgets in general:
http://www.zdnet.com/article/why-peb...96500774529668
Simply put they were a small fish in a small pond crowded out by two bigger fish that don't fit in the pond themselves. I.e., there isn't enough of a smjartwatch market for both Apple and Samsung, much less those two and somebody, anybody, else.