Scepticism is ok. If you are a long term investor, read up a little in diabletes and you may see my point.
I agree it is about compliance. BG monitoring was a huge step up from urine testing. It allowed people to get feedback on the challenge of balancing their diet, exercise and medication to manage their disease. BGM however is intermittent. It allows a certain degree of control but it clearly is limited. Again look at the distribution of HbA1c's in any study population and you will see.
Continuous monitoring will allow diabetics to act before their sugar levels get into dangerous and harmful territories.
You are right that the it will be a small group of type 1's that will start the ball rolling. These are the early adopters who drive any breakthrough innovation. Those early adopters, by the way, tend to see the leading endocrinologists and thought leaders. If the EA's manage to reduce their high and low excursions and improve HbA1c's, the technology will start to move to the fat part of the adoption curve.