You seem to be drawing a line between mobile and wearable based on where the computing resource resides. [1] But no-one really cares where the computing resource resides. And cloud computing seems poised to render that distinction largely moot anyway.
When most people draw a line between desktops and mobiles and wearables, they're talking about the interface and app model. That's why netbooks get lumped in with desktops and tablets get lumped in with mobiles, despite being essentially equivalent in size and mobility.
[1] "Is the computer on my desk, or in my bag, or in my pocket, or on my belt?" vs "Do I sit at a desk with a keyboard/pointer and manipulate many apps, or do I use it pretty much anywhere with a single app in focus, or do I use it by virtue of wearing it with some new app model that fits wearable use cases?"
When most people draw a line between desktops and mobiles and wearables, they're talking about the interface and app model. That's why netbooks get lumped in with desktops and tablets get lumped in with mobiles, despite being essentially equivalent in size and mobility.
[1] "Is the computer on my desk, or in my bag, or in my pocket, or on my belt?" vs "Do I sit at a desk with a keyboard/pointer and manipulate many apps, or do I use it pretty much anywhere with a single app in focus, or do I use it by virtue of wearing it with some new app model that fits wearable use cases?"