"Wearable" is a logical successor to "portable". I think a key paradigm decision to be made is whether computing should be local like a computer or smartphone, or relegated to the "cloud". It would define what chips would dominate this market.
We can just combine the two terms "wearable" & "Appliance" to coin a new term Wearable Appliances to suit these new generation of devices .
But I would prefer more accessorires than the Appliances on my body. Because with accessories I can pick and choose and make own system on my body and I can use my smart phone or even some other wi-fi device to collect the data from these accessories and procees it.
Ok, I get the feeling that these wearables will not be driven by keyboard input so much as sensory input. So it would not be a computing-intensive device at all, with an operating system, etc. (So no blue screen of death!) Probably calculator-type chip with sensors. It's a new direction for sure, for the foundries and their customers.
Well, in different circles, "appliance" means different things. I tend to use it as a term to mean that something can stand on its own, it doesn't need another device to function. Others draw the distinction in the hardware somehow.