The wearables market might be one of the best examples of the race to the bottom in recent years. Fitbit, once a golden child, has been forced to claw itself up the price lists, away from the cheaper fitness trackers that have now been completely commoditized by cheaper Chinese options. With the bottom end off limits, Fitbit has been trying to scratch out some space at the premium tier, but that is a niche that has been dominated by Apple from the off. But the new $200 Fitbit Versa sits just under the $250 line that marks the cheapest Apple Watch offering. Gone are the days of the $17,000 model, as Apple wisely backed away from that approach quietly. The…