You can pay for Apple to replace the battery, just like on an iPhone. I plan on using the Ultra for several years as I have all Apple Watches I’ve owned. The tech is mature enough now that this should last a good long time with one battery swap mid-life.
Yes, it’s a lot of money, but I find it odd to single out the Ultra among the Apple Watch lineup as being not worth the money. You can argue that the only AW “worth the money” is the SE as it does everything you need a basic smartwatch to do.
Right now you can order a stainless steel 45mm series 8 with link bracelet for $1049, and that has less features than the Ultra. Stainless steel is heavier and more prone to scratching than the titanium case of the Ultra, battery life is worse, GPS doesn’t include the L5 band, no programmable action button, etc. To me, that seems like a bad deal. Previous Apple Watches that Apple wanted to convince you were as valuable as jewelry were even more expensive. Apple Watch Edition went up to $20k or something?
So I don’t see how you can single out the Ultra as being a bad purchase when it’s lower cost than some models of the series 8, with more functionality and longer battery life, which has long been the number one complaint against Apple Watch as a product. Also you’re drooling over a $2,750 smartwatch from Tag Hauer that lets you control the temperature in your Porsche so I’m extra confused as to why you think the Ultra specifically is overpriced when it’s “really just an Apple Watch”.