Does Samsung think you will buy the next Galaxy device? This device actually looks decent as long as it's for a good price unlike the Galaxy Watch that costs more than a Note 3 on contract. I am still not sold on these but maybe one day.
Do companies really believe people are going to buy products like this?
Yes. This is just a new technological idea establishing itself like smart phones did. Given five to ten years we will have really awesome products as technology grows smaller and more advanced. Smart phones, smart watches, smart hats?