More transparency from Apple would have been nice, but the fact that info is just now coming out that one of two taptic engine suppliers released bad product underscores Apple's previous opacity, as well as poor planning.
In retrospect, so much of this irritation over lack of communication and extended delivery times could have been avoided if they had proactive decided to say "Preorders start on April 10, and delivery is expected between May and June." This would have given them time to deal with any possible slip-ups in production (like the taptic engine one we're now facing), and would have afforded them the opportunity to look awesome if people started receiving their Watches in late April instead of mid-May to as late as July (for orders being placed at this point in time).
Instead, an expectation was set with the heavily-advertised availability date of April 24. They only pulled that down a few days before the date arrived when they realized they couldn't meet the date for the vast majority of orders. Even then, the page still says "Apple Watch is here." Customers who faithfully preordered on 4/10, but didn't do so within the first 5 minutes or so after midnight, aren't seeing that.
The problem is exacerbated by actual in-store stock being available at 5 top-end boutique stores worldwide. If you were fortunate enough to live in the right area, you could just walk into the store and walk out with one on April 24. Meanwhile, the "guaranteed money" of preorders still sits with a majority of people wondering when they're going to receive their product.
But there's more going on than just taptic engine delays, because there are people who ordered days after the preorders started, and they have their Watches in hand, while there are others (and I'm in this camp) who were very, very close to the midnight preorder start who still have orders showing in Processing, with no money taken from their account. The only consistent thing I've been able to narrow down as a common point for those people is the 38mm Space Gray Sport with a Black sport band. So there are other supply issues happening.
But we don't know which ones, because Apple won't talk.