Android wear has nothing like Sony's widgets. Wear uses cell phone hardware. Look at the specs running on something like galaxy gear or LG and look at SW2's specs, Sony's OS is wayyy smaller footprint. It runs great on Tiny slow hardware. I don't think we should need an OS like android to do stuff like being a phone extension. Also, based on what I've seen, Android Wear will probably not have devices with always-on screens, or at least neither Moto 360, not the LG one. (correction: LG G watch screen is indeed always on)
I doubt google will have a widget interface we can edit like ours. Pebble has Canvas, which is what I think Sony was partly inspired by. Canvas is a separate app and I think that something like Canvas should be an integrated part of the OS and Sony's got it integrated.
Android Wear is in it's infancy, and it's got to start from scratch. Sony's next watch will be a 4th generation Smartwatch. (even more if you consider Sony Ericsson watches like the MBW-150) So think of where they will go now, with the next major update. Android wear on the other hand is going to be spending the next few years fixing bugs and bringing basic features like SDK access to certain APIs that our wacth already has had since day one.
I wouldn't mind if sony licensed it's Smartwatch OS to other manufacturers as an Android Wear competitor.