Carrying a remote control for a handheld device still strikes me as daft. If it worked as a phone in its own right, perhaps combined with a small earpiece, that would arguably be an advance. But to me this looks like every other watch "device" since the digital LCD: a gimmick to be abandoned for the next one every few months.
Actually it does. It is going to have a small microphone enabled and you will be able to make calls and receive calls. It was one of the numerous features not highlighted during the presentation. Yes it needs to be linked with your phone but your phone would only need to be in near proximity to you to enable this.