That's not exactly true. I believe Tim said something like "I expect people will charge their Apple Watch nightly as they do with their iPhone". That by no means would indicate that the watch will be dead by bedtime.....
You are basically correct and here is the quote.
Tim Cook said:...We think people are going to use it so much you will end up charging it daily...
EDIT: Just to add some reading between the lines. It looks like Cook is saying if you do a lot of stuff, like listening to music, lots of syncing, lots of Siri dictation and lots of.... you will need to charge the battery over night or risk having a low battery the next day. So you will likely get a full day of heavy use without needing to charge.
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