I have an AW2 and I find it incredibly useful during my day. I get a lot of email and text messages and it is very handy to be able to take a quick look at my wrist to see if I want to read more or not. When I am in a meeting, that function allows me to focus on the meeting and not worry about "what was that text, should I check it?" kind of distractions. Also I use it to track my exercise routines and to have access to my music while I work out. The timekeeping is great as it is synced to the iPhone timekeeping, so it's always accurate. I also use it to remind me of upcoming events and things on my to-do list. And for Apple Pay, of course. It is, for me, much more than an "expensive toy" to me.
As for being clunky, my last watch was a Citizen Eco-drive Skyhawk, which is the same dimensions but thicker than the AW2, so for me the AW2 is actually smaller and lighter than I was used to wearing.
I guess it's all in your perspective. The buttons are tiny, to be sure, but it's not intended to be a "composing" device. About the only time it needs to be tapped with real precision is if you have to enter your passcode manually (rarely, you can unlock it with your iPhone and once unlocked, it stays unlocked until you take it off), or to choose an app from the app layout screen (again, rare, as i have my most used apps on the Dock, which is much, much easier to use).
