Smart Watch Expectation vs Reality
Let's start with the fact. There's no problem with the demand of smart watch. It is the problem with their expectation.
Apple after selling plenty of iPhone launched the Apple Watch. Apple and the media expectation was that it would sell just as well as the iPhone. That was their mistake. It isn't suppose to.
In reality, smart watch doesn't cover remotely what smart phone can give. Along with the fact that most smart watch need a smart phone to get their feature fully work, overlapped features becomes a non-benefit to smart watch. After you lineup the true additions of the smart watch to smart phone, then the market is left with only a small pool of consumers who wants a smart watch.
It's like high-grade expensive non-smart watch. It has a small pool of consumers who want it anyway, but that's not the same pool of consumers as the smart phone market.
As a result, the smart watch hype leaves only those manufactures who either copied Apple Watch for a smart watch but didn't put in as much investment, and those who manufacture watches from the start get a nice profit from the new smart watch trend, while those large brands like Apple and Google just don't get the returns they expected.
With a poor return on their expectation, it makes sense why they and the media no longer try to market the product since they've already wasted too much money on their initial incorrect marketing investment. If they had lower expectation from the start, they would have been doing much better.