Reasons for the change of heart are varied depending on who you ask, but it feels as if these devices were heralded as the next great thing, but in practice, aren't so svelte. In fact, our smartphones are generally far more advanced and just as easy to look at. People also seem to have an addiction to large screens, and we've grown quite fond of constantly looking at the latest and greatets on a mobile device. Essentially, none of these wearables replace the allure of our phones.
Will wearables overcome the stutter start? It's tough to say. As they've improving, so are phones. It won't be long before every major smartphone has fitness tracking equipment already baked in, removing the need for a secondary device. Head-worn products still have years before they're accepted by the masses from a design standpoint, and one has to wonder if the public at large won't simply agree to "live without them."
Wearables came with a boom, but could easily end up being a niche market -- albeit a large and nimble one.