There will be no price umbrellas because the practical price of the watch will vary based on the band you buy. True, we have barely any pricing information (starts at $350!), but I’m making an assumption: the most expensive bands will cost at least as much as the watch itself while the base bands (likely the sports bands) will be a modest $30-$40.

In effect, with wide range of bands Apple has a full price gradient which addresses the luxury market and the mass market. This is important. Without the mass market, the economies of scale won’t kick in and platform plays (like Apple Pay) will whither on the vine. But if they only addressed the mass, the Watch both wouldn’t be personal and precious for those who want luxury and they’d leave a ton of money on the table.
—Drew Breunig, The Watch Band Connector is its Most Critical Component