Hard pass on the always-on microphone. I wonder if this is going to backfire spectacularly, as in Apple watches will be banned in offices or at least socially rejected like Google glass back in the day.
I was really on the fence about replacing my Ultra 1 watch, even though it's no longer supported in WatchOS 27. The updates to the Ultra line have been so incremental ever since it released, but watching this has solidly shut the door for me.