It's not about the functionality though. And of course it's not, because like you say, it could be an app if it were.

It's about the interface. And of course it is, because look how gorgeous yet minimal it is.

I guarantee most tasks can be accomplished with this in less steps and less time than if you had to pull out your phone, open an app, and do it. Remember, this is sitting on your desk at arms length at any time you need to use it, and always in your face with information at a glance.