It's one of the original smart watches. What really sets it apart from modern ones is the e-ink display and dead simple interface (just a few buttons, no touchscreen). This simplicity means that it continues to do what it does well and doesn't really feel like it has aged badly. Certainly I would rather wear a pebble than a gen 1 Samsung watch or moto360.
It's a delightful bit of kit that was sadly abandoned by owner and it's nice that they are open-sourcing a dead product instead of just leaving it to rot like so many other electronics are.