There are plenty of people who won't wear a watch, but probably wouldn't mind wearing a ring. Even an ugly one. *shrug*
Besides... there will eventually be a Wear OS Alexa app which will take care of Android watch users. Android phones already let you choose which default Assist app you want to use. I can choose between Google, Amazon Alexa, or None. So I figure it's only a matter of time before all Android watches are officially Alexa-enabled.
I fell out of all marketers' primary demographic long ago. Which means my opinion on which future tech the masses might embrace is pretty-much useless.
An old man (speaking about myself, here) poo-pooing an ugly tech-ring isn't exactly a convincing indication that it won't sell like hotcakes.