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I started to hack around cheap chinese Freqchip SOCs:

You could get smartwatches for 3EUR on Ali with this chip.

Wow, some of these chips are 2.6rmb at 3k MOQ ($0.36) for an Arm Cortex m3 with BLE (and sig-mesh) support... this is wild!!! How usable is the SDK?

BLE is fairly straightforward to implement. It's the compliance testing which is costly. Are these fully compliant, i.e. FCC approved?

Can you link to one of the watches? I haven't managed to find anything with two quick searches.