And most who want it or have it and love it do so for this exact reason, acceptable battery life.
And I get it. I also really wanted to like it because the not-really-all-day battery life of Apple Watch 6/7/8 just doesn't last more than a single charge if you use any of its features in a meaningful way.
Having the 2x of that is a game changer and lets you really go hard on the heart rate and gps tracking capabilities without having to recharge after a long session.
But the Ultra's case is just to bulky and protrusive to be anything but the watch you wear for diving, hiking, running:
When you look directly down at the display from above, it looks just fine and can pass as decently proportionate on a lot of wrists.
But all proportionality is gone once you look at it from any other angle:
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The way the Ultra sits on an average wrist is exactly how you don't want a wrist watch to sit on your wrist: With the case protruding vertically out beyond the width of your wrist, creating large gaps between the bottom of the watch case and the watch band.
Either 41mm and 45mm will fit average and below or above average wrists. 49mm requires an 8" wrist or bigger. And even then it's still a bit too thick and protrusive.