Did not know about it either, but it explains a lot!
Google's been talking about Android Wear 2.0 for a looong time...
I liked one quote especially, it feels so diplomatic:
"Google isn't technically late, it's just taking a bit longer than planned"
Well, I hope it will appear to be worth the waiting!
Android Pay also on the list, nice. Maybe someday it will be completely normal to pay for everything using your watch.
Great move Google! And nice from your side, to not close yourself entirely before Apple users.