As I think more about it, while there are obviously key differences, I don't see much the Echo does that I can't do with my Android Wear device. I say this because I honestly don't find the Android Wear device that useful around the house. The main difference is the audio feedback from Echo as opposed to the truncated card data shown on the Android Wear (with link to open more data on the phone screen)... this is probably the biggest omission in Android Wear and one that would make it a lot more useful at home (such as to use it as a speakerphone in the kitchen while cooking, even though my phone is docked in the office... or to have texts/emails read to me in whole instead of just the preview).

I haven't traveled with the Android Wear it yet (later this week), but I think around the airport (boarding pass, notifications), walking around a city (turn-by-turn without holding your phone up in front of you like a tourist), and the like is where it'll prove a bit more useful. Right now, around the house, it's a glorified pedometer.