AirPort Extreme. I would rather forget wifi for the watch than replace this honestly. Wifi on the watch is just a novelty feature at this point. I will have google fiber in a few months so buying a router now wouldn't make sense.
I have noticed that forgetting the 2.4ghz network on the phone doesn't necessarily forget it on the watch which makes me wonder how a person would forget a network on the watch.
the wifi on the apple watch is not a novelty feature. it is intended to keep that watch connected to it's paired iPhone
if the iPhone goes out of bluetooth range. , t-mobile / watch customers running watch os2 can forgo bluetooth
and even make a phone call on their watch , when the iPhone is not even turned on