I think this story is behind the herald paywall so can't copy/paste. This is not an issue specific to apple watches, so did not put this in the apple section.
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12227664
Effectively anyone who bought a gen 1 apple watch might be able to get a full refund by lodging a disputes tribunal claim.
This is because apple have stopped rolling out software updates for the 1st gen apple watch, and the disputes tribunal ruled that this is a breach of the CGA.
In theory the same applies to other brands and devices.
Although, it seems that retailers can get around this in future sales, by being more upfront and not relying on the T&C small print.