I'm a real sucker for anything hand-crafted, and made with the love & passion of a true craftsman - someone who's dedicated their life to learning their art. I'm not sure this product fits that mould, as it's machine cut, but when you're dealing with electronics, you can't be 100% handmade I guess.
And it doesn't hurt that the watch is beautiful, and different too. The price surprises me a little, though - I would think they'd position this as more of a luxury item (although for a kickstarter project, I suppose it makes sense).