1. IIRC the first Pebble was $99, and the one after it was $149. We're a decade on, inflation is rampant, and the new devices are evidently intended as lower volume products. $149 seems OK to me in 2025. $225 seems OK as well for the color unit, but I don't feel like waiting until December, and can't justify buying two watches. I put my money down for the $149 unit. We'll see how much it ends up being by the time it's on my wrist in Ireland. My current "smart" watch is a Mi Band 6. I'm on screen no.2, strap no.3, and shortly battery no.2: all told, I certainly have $100 invested in it by now, even though it cost me 42 Swiss Francs ($45?) to buy initially.
2. There are other hacking-friendly watches out there, but they do not have the depth of app ecosystem that Pebble did/does. I think those thousands of watchfaces and applications ready to fire on day1 are worth something. This is not a net-new smartwatch environment, it is an established if a bit aged standard that is being polished back up for the modern world.
3. I'm the target market, but I definitely don't have an Apple watch because it doesn't work with Android devices, and I absolutely detest iOS (and am increasingly frustrated with Apple's blatant cash grab-ism vis-a-vis RAM and flash prices on their computers to the point that I've pivoted back to Linux devices).