They are suppressing information which could help a customer make a decision. Users can no longer search for or discover apps that support their watch via the AppStore. I view this behavior as anti-competitive and does not serve the greater public good. Apple is a corporation.
Erm... Wouldn't that be similar to Google rejecting the trademark "Apple" from their search results? You're making it sound like Apple owns Pebble trademark and aren't happy for it to be used.
Look for any story where someone said they had their app taken down because they had copyrighted material in the promo pictures or used a trademarked name in the title or copy.
Those stories and policies is for using copyrighted material without permission or using trademarks without authorisation, totally different thing from not able to use trademarked names.