Short answer: I don't know - I'm not sure if wearables act as a thin client for work done by the phone, or if they come with the necessary hardware (what kind of chip/GPU are they going to squeeze in to a watch?!), or if they can run the same apps as the host OS (e.g. Android APKs on your watch).
It's hard to imagine a web browser on a watch, and I find it hard to see how much fun you could have trying to poke your watch face to play a tiny game when you have your phone in your pocket as well. I think the answer is just to wait and see. If anyone has one and is experimenting with it, I'd be curious to hear how customisable it is in this regard.