The real problem to be seen with the Versa lies in the source of its software being a better example of how to build their product.
I had a Pebble since their first kickstarter and the work Pebble did to make exactly what you are talking about blew Fitbit's current product out of the water (Even though Fitbit bought them and used their tech to make the Ionic and Versa). The Pebbles were faster, lighter, smaller, with better battery life (2+ weeks!) and a fantastic UX (By the same people who worked at Palm on WebOS). Sure they didn't have a touch screen, but they also intentionally had enough buttons to not need one. (Meaning they worked better with gloves)
Then you talk software quality, after using the Versa for a little while, the biggest problem is that its UI is such a mess to use. If you don't want to configure a watch face on the Watch, the Apple watch has that feature too and it is instant and easy to use, just like the Pebble was. Once you use everything else it's really clear that the smart features on the Versa are an afterthought that Fitbit tasked some scrum team to get done and shoved in the app in a week, marked the task as done, and moved on, forgetting that for the casual user, that is the only other thing you want to do with the app.
The other entire problem is that the Apple Watch is complex...but only as complex as you want it to be. If you never click the home button it can do everything you do with your watch with a nicer (bigger) screen, an easier, and a faster UI, and plus it has Siri and much better notification access. Fitbit is stuck between Apple and Garmin and they justy can't pick one. I imagine the Google sale would fix that pretty fast.
Buying a fitbit is just buying a fitbit like buying a Casio is just buying a Casio. If Apple Watch were some agnostic thing that didn't require dragging an entire ecosystem I don't live in with it, I'd probably consider it. Assuming the battery life didn't suck. As is I'll probably go with Garmin when it's time. Google is the kiss of death and if Fitbit is being shopped to Google then they're dead already.
I had a Pebble since their first kickstarter and the work Pebble did to make exactly what you are talking about blew Fitbit's current product out of the water (Even though Fitbit bought them and used their tech to make the Ionic and Versa). The Pebbles were faster, lighter, smaller, with better battery life (2+ weeks!) and a fantastic UX (By the same people who worked at Palm on WebOS). Sure they didn't have a touch screen, but they also intentionally had enough buttons to not need one. (Meaning they worked better with gloves)
Then you talk software quality, after using the Versa for a little while, the biggest problem is that its UI is such a mess to use. If you don't want to configure a watch face on the Watch, the Apple watch has that feature too and it is instant and easy to use, just like the Pebble was. Once you use everything else it's really clear that the smart features on the Versa are an afterthought that Fitbit tasked some scrum team to get done and shoved in the app in a week, marked the task as done, and moved on, forgetting that for the casual user, that is the only other thing you want to do with the app.
The other entire problem is that the Apple Watch is complex...but only as complex as you want it to be. If you never click the home button it can do everything you do with your watch with a nicer (bigger) screen, an easier, and a faster UI, and plus it has Siri and much better notification access. Fitbit is stuck between Apple and Garmin and they justy can't pick one. I imagine the Google sale would fix that pretty fast.