I order stuff from China all the time. With that said you have to use a little common sense. Low costs on items with are substantially more expensive here
in North America generally have a reason for the price difference. You are sacrificing something for the low cost:
No Safety Standards
Low quality materials
Low QA/Testing
High failure rates
Infected Software
No warranty
You can buy some pretty good copies of things, but generally they always fall short on the quality of the software/firmware (or materials).
Even the simplest things like components purchased from China, terminal blocks for example, you can get great pricing on
them but the plastics used on the screw housings are brittle and cheap. I learn everyday the things you CAN and CANNOT buy from
China
As for a $17 watch, a 'Smart' one, I'd say pass (other than wanting to mess around with it - possibly hack the firmware).
On a side note tho: I've got some outrageously good deals on quartz analog watches that are copies of Breitling, etc
for $20-$40 range, that were made very well...
You win some you lose some, but I definitely don't trust Chinese gear not to have a back door/software hacks.
Interesting post tho - I considered buying one for fun last year, but never considered the risks of hooking it to my Smartphone.