I think just like the Galaxy Buds wearables have a widget, the Galaxy Watch also needs one too.
For example, this will make it easier to check the percentage of your watch when it's charging instead of going into the Wearables app, which can take some time to load. And sometimes you may have multiple wearables devices and will need to switch to the right one, which again takes time.
It could show the battery percentage when using it as well, as you may not use a watch face that shows the battery status, so the widget would be helpful if you are using your phone in that case.
I feel that in many cases its much faster than going into the app or checking the watch itself as a simple glance is quicker than a few taps and swipes.