i'm a bit of a design ripoff

So lots of the websites I look at seem to be carrying adverts for something called an i'm watch. Ignoring how much I hate it when products have irritating and difficult-to-search-for names like this (yes I'm looking at you, "be" internet), I can't help think it's a rather massive ripoff of the iPod shuffle (6g) or, more specifically, the many third party iPod shuffle watch straps on the market. I don't know which was first, but most famous to my mind is the 'lunatik tik tok':

Still, I suppose the i'm is quite attractive and it has some functions an iPod nano doesn't (although conversely the iPod nano is, well, an iPod).

i'm a pretentiously named product
tik tok (actually also a bit hard to find, thanks to 'ke$ha' (sigh..)
many alternatives