I agree, as a proud owner of a latest gen Apple Watch, but I can see how its benefits are not enough for its price for most people (i.e. its very convenient, but also expensive)
Not sure I'd have gotten it otherwise. But at the same time, it's pretty easy to rationalise any cost when looking at it as a monthly payment haha. A 3-year usage and a 20% resale value on the SE ($280) will get you a $6 a month price. If that improves your daily activity by just 5 or 10%, that's probably the cheapest medical intervention in your life, ever. That's probably why the insurance companies offer cashbacks, it's a cool model. They can give me a watch for free every few years and get in return a person who, on average, spends >1x the apple watch less on healthcare costs, every year.