I agree it's too early to call, I just hope, if not right away, at some point Apple does offer, what I would call a "Face Designer Kit" app to allow users to make their own personal face designs, just for their own private use only.
I also agree Apple can only sell new/unique or officially approved/licenced designs.
Hence me saying it would be nice to have a user editable app just for personal use only, which designs could not be sold on, and were only of use on your device.
One final point, whilst I understand about copying a design, in a way it is free advertising for the brand if your brand name is on the front of someone Apple Watch.
And, let's be totally sensible here for a moment.
I would struggle to go along with the argument or theory that, because someone can put say a Rolex face design on their Apple watch, doing this would mean they would no longer want the Rolex, and lose Rolex a sale.
I think almost everyone here would struggle to accept that logic
In reality, if anything, I would think it would be Apple that would not want Rolex on the front of their watch as a watch face. Not Rolex
I really don't see the two devices, an Apple watch, and an expensive mechanical watch as any competition to each other as they are such different devices, bought for different reasons.
I can't see the odd person making their own "fake brand" face is going to affect either brand in reality.