I don't see the cost-benefit justification when an Apple watch costs $400-$800 and is (at least IMO) is yet another device to complicate my life and invade my privacy.
The Apple Watch SE is $249, Series 8 is $400. Used version 5, 6 or 7’s can be had for $200. (I picked up a refurbished version 5 off Amazon for ~$200.) I find that the Apple Watch simplifies my life. I have all notifications turned off except for meeting reminders and texts from my spouse. I leave my phone at my desk and no longer carry it with me around thee house or work. Apple Pay works beautifully, allowing me to leave my phone at home to pop over to the grocery store. The timer is convenient for cooking and reminders. As a recreational runner, it has replaced my Garmin. The sleep tracker works well. To my knowledge, it transmits no additional data to Apple than the iPhone itself. And it keeps time. All in all, a worthy investment.