My own experience with the Apple Watch battery life is that its just fine. It could be longer, sure.

Wearing the watch for 23 hours a day is manageable if you are diligent about when you charge it [1] and when you use flight mode [2]. Personally I do not bother with this but if you were someone who valued sleep tracking via your Apple Watch then you can find ways to make it work.

[1] https://www.sleepwatchapp.com/charging-apple-watch-for-sleep...

[2] https://pillow.uservoice.com/knowledgebase/articles/1197217-...