If your tracker shows you walked 12000 steps today as opposed to 8000 yesterday, even if you actually walked 10500 today and 8750 yesterday, that's still progress.
Upon research and asking around, I understood that it's more of a false positive. A more paranoid person may have reacted differently in such a scenario. So, consistency alone may not always suffice.
I've seen substantial mismatches between wrist and chest strap if my tracker had any ability to wiggle. With an infinitely adjustable metal band set so there's no slack but no pressure I see a good correspondence, although I haven't put it a test as hard as rowing (my activity of choice is hiking.) But my wife absolutely doesn't like such a band, wearing a soft, loose band and using her arms her "heart rate" has gone above 200.
I have also seen an environmental effect--these days I use the chest strap sensor because if my wrist is cold (conditions just below when I would add another layer) the wrist data can go totally bonkers.
Could it be better still? Sure, but I see no reason to assume that people are somehow lowering standards and not working on making it both cheaper and better all the time.
So I don't see an easy solution apart from governmental regulation. But you need a consistently stellar government for that.
I just don't care how accurate that the watch is (thus far anyway) because the perception of progress—delusional or no—is why I use it.
Generally, though, my perceived performance is reflected in the relative numbers. If I felt otherwise I too would be complaining about accuracy.