Long sleeve thick cotton shirts, long pants, and a good wide brimmed hat are easily ten times more effective in practice. My old hard as a tack, shearer grandfather used to swear by black picnic umbrellas (great option if you are spending time working in a fixed location).
Of course you can't swim that well in long sleeved clothes hence the popularity of sunscreen. I'm totally against Aussie beaches at this point though, yes they are nice and all but the radiation dose is just nuts.
Would love to see something like the Apple Watch include UV dosimeter functionality.