That picture is a good example of where Apple could have made a choice to eliminate the ring showing the seconds and replace it with digital seconds. They made the more artistic choice. I do like the look a lot, but it adds a mental load to quickly come up with a number.
When I'm watching logs, I have conversions to make. I'm on the west coast. Some logs are east coast time. Some logs are UTC. I am always having to add 5 hours, or 8 hours, or 7 hours (if daylight savings time). And, the UTC logs are in 24 hour format. The mental load is quite high for me. Having my watch just tell me the full time in big numbers would help. As it is now, I just don't use my Apple watch for that at all. I did find a multi timezone clock with full digital display for macOS and just use that.