Where Samsung failed is in the software. The user interface is confusing; the display is awkward to read; the heart rate monitor and pedometer aren't accurate; and the sleep tracker only logs a couple important stats. Ultimately, the company tried so hard to integrate a fitness tracker with a smartwatch that it ended up half-baking both almost every feature. As is, it's not worth the $200 asking price.
History, too, would suggest it's not a good idea to buy this right now. As we mentioned in our review of the original Galaxy Gear, the device felt more like a proof of concept. Samsung clearly agreed, since it pushed out an improved sequel less than six months later. Now, the Gear Fit appears to be in the same position: great on paper, but poorly executed. It's best to wait this one out, but hopefully Samsung will push forward, listens to feedback and comes out with a much better version before long.