The edge to edge round LCD/OLED would be quite expensive to manufacture.
As Chrono mentions, this hardly looks large enough to hold a sufficiently large battery.
The rather small elements suggest that this is not a touchscreen, so the only interaction would be through the few small watch buttons on the side - this sounds like a great way to go back to digging through the tiny paper manual to figure out that "switch to email notification" is long hold button A, and tap button C twice.
It's pretty - and pretty impractical.