It seems that Samsung had an ace in the hole along with their revised version of the Galaxy Gear that I wrote about yesterday. I don't know much about the Samsung Gear Fit, but it does look like a nice device. According to the linked article the Fit is only a fitness device.
The Fit doesn't have the camera, microphone, or speaker of the Gear 2 and Gear 2 Neo, but it still can receive all of your smartphone's notifications and alerts, making it one of the smartest fitness trackers we've seen yet. The focus is clearly on fitness, however, as the Fit includes a real-time fitness coach to encourage you to speed up or slow down via alerts, the ability to measure your heart rate in real time, and syncing with Samsung's S Health apps on Galaxy smartphones.
It is odd to me that they would release two watches. It reminds me of the same comparison that Gruber made when Microsoft released two different versions of the Surface. I assume that Apple will release a wearable device sometime this year, and I expect that they will make the decisions necessary to bring a worth while wearable device that has yet to be seen.