You may not have been taking advantage of the power of complications and different Watch faces for different scenarios. Arguably one of the best advantages of a smart watch that isn't available to old school watches is the ability to change your watch faces according to different scenarios, the same way you can swap out watch bands.
Apple demonstrated multiple watch faces in watchOS 16 as a method for having access to many more complications than the limit of around 4 to 6 that you have on each watch face. Easily swipe between them.
Here's my personal use case:
Modular Watch Face during the day for access to my appointments, weather complication, my fitness and rings and adding To Do's.
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I go to the gym and swipe over to my Acitivity Watch Face with its own useful complications:
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I go to a more formal event or meeting, throw on a suit and swipe onto an analog clock with complications I need mid day:
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If I'm listening to music or a podcast, I have a Now Playing watch face with widgets suited to that activity.
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When I'm in the middle of an outdoor photoshoot and want to understand solar dynamics, I switch over to the Solar Dial face.
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As the day winds down, I swipe to the simplest watch face:
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As you can see, watch faces act almost like home screens for different activities, each with their own apps/complications. I rarely ever had to go to the honeycomb app screen because I have complications for all my most used apps in the scenarios where I need them. Changing between watch faces appropriate for different scenarios is only usable because it's so low friction. Having to press and hold feels like entering a more semi-permanent settings mode.
I'm guessing Apple wants us to focus on widgets instead of complications now. My workaround will be to have each watch face associated with a Focus. Having swipable watch faces would've made changing Focus more natural.
Maybe they can move focus changing to the side button/Control Center, but nothing was more natural than simply swiping over to the Watch face appropriate for the activity/focus you're in.