Meanwhile Coros Pace 4, a 200 dollar watch, has 40 hours of GPS tracking and offline map. I simply can not understand the pricing strategy of Apple. Do they really expect people who are serious about endurance sports and training to get their ridiculously expensive Ultra? Or they are just fine with Garmin taking the biggest chunk of this market?

The Garmin Forerunner 970 is only $50 cheaper than the Ultra. Then, the Garmin Fenix 9 is more expensive than the Ultra and doesn't have cellular and charges significantly extra for the satellite connectivity.

My Fenix 7 has ~12 days of life, while using it every day for fitness tracking, maps, the occasional LED flashlight, etc. It also is at least IME much more of a beast than an (admittedly older gen) Ultra. I charge before I leave, then spend a week or more living out of backpack and sleeping on the ground. I very much want to go back to Apple Watch but Garmin battery life and durability is just so much better for my use case.

Few people spend a week or more living out of a backpack. The ultra 4 is rated to do 84 hours in low power mode and 45 in workout mode. Few people are going to max that out and those people probably aren’t interested in an Apple Watch and have other priorities.

Are people serious about endurance sport actually a big market?

Funny this was downvoted: I was thinking the same as I was reading this thread.

True mass market means optimizing your product for the fat part of the population bell curve. This is some point or region in a space of { cost, features, use cases, durability }. The Apple Watch works for everyone from a stay at home parent, stocker at the supermarket, executive, and so on. If you work in a machine shop or spend a few hours every day working out it may not be for you.

There’s a marginal but valuable exception: think of prosumer cameras. There are indeed pros, and the feature set is good enough for some of them to shoot with a prosumer camera (any actual pro can shoot better photos with an instamatic than I can with a phone, much less an SLR). But most people buy the high end aspirationally. Why not? That penumbra pulls more people in who really need the plain old features.

And anyway once you really are at the high end your needs can be idiosyncratic.