I am one of those people who sets up all kinds of reminders... both one-offs and recurring reminders. I rely on them heavily so I don't have to worry about remembering things on my own

As others have mentioned it is great to be able to set up a reminder by saying, "Hey Siri..." when my hands are full or when I'm walking home and don't want to get my iPhone out.
My wife used to get annoyed by my iPhone pinging me with reminders, but with the watch all my reminders are silent. Most of the time I feel the haptic tap on the wrist to know that I have a reminder (or some other notification). Occasionally I will not feel it because I'm doing something that masks the feeling. Fortunately you get the red dot at the top of the watch face to let you know you have missed notifications. Some reminder apps can also be set to remind you again if you don't acknowledge the reminder within a certain period of time. I use Due for some more robust options. It allows me to configure recurring reminders and snooze or nag-me options. If I absolutely must remember to do something at a specific time, I can set it to nag me every minute and it will tap me on the wrist every minute until I either postpone the reminder or mark it complete. Most of the time I set the nag option to every 30 minutes or every hour.
Something to be aware of is that the watch dose not come with a reminder watch app. It will channel reminders from the iPhone Reminders app to your wrist. When you say, "Hey Siri, remind me to..." it will add the reminder to the iPhone Reminders app (or you can add it manually using your iPhone) and the reminder will appear on your watch at the time you set the reminder for. Of course you can install third party reminder apps like Due as well.
Sean