The digital crown and the button aren't directly analogous to the Home and Sleep/Wake buttons on the iPhone. Force Touch has no analogue on the iPhone (at least not yet). Trying to use the Apple Watch like an iPhone works about as well as trying to use an iPhone like Mac. (Or trying to use the original iPhone like an old-school BlackBerry or Treo.)
Yes, you can go and seek out all the features if you really want to. Apple made it possible. But the watch really wants to bring those features to you.
Something that I've noticed is that a lot of people (myself included) tried to rationalize the UX of Apple Watch in the six months since the original announcement. And, for me, a wrong assumption was to believe that Glances were comparable to widgets on iOS 8 – always accessible from anywhere by swiping from the bottom. But Glances are meant to be used to peek at information from the watch face, and the entire structure of the Watch OS is different from iOS. I'm curious to see how quickly I'll get used to Apple Watch, as brief demo sessions aren't enough.