YOUR THOUGHTS PLEASE - NIKE FUEL BAND

Just thought I would ask your opinion about the Nike Fuel Band.... to me it looks like an unattractive overprice watch... basically it measures your day to day activity and turns it into Nike Fuel (whatever that is).  It also tracks each step and calorie burned.... you set targets on how active you want to be... surely you can do that with out this gadget priced at around £130.... a high point is when it flashes green you've reached your goal... low point... pointless

If Im missing something with this because Ive read reviews and I still dont get it .... well if I have missed something get in touch a let me know purrrlease....