There's definitely more to it inside that's taking the scrollwheel motion and translating that to motion at the watches crown.. I'm personally curious what the gadget that does that looks like.
Based on this screenshot of the render gif you could argue at this point it's vaporware. The tolerances and geometry for the scrollwheel housing just don't make intuitive sense. Maybe we should get some actual footage of a prototype working?
What about the screenshot supports the claim it's vaporware?
And in what way do the tolerances not make sense? Just from your vibe check? We don't know anything about what tolerances are being used/held on any of the parts involved with the product, so this doesn't even make sense as a thing to talk about?