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you mean like Alexa and Google Assistant devices have done for years?

At least Apple's features are opt-in, unlike most others which are opt-out

Opt-in for the owner of the wearable device, not for the people being listened to.

Kind of like Meta’s approach to those glasses that record everyone you look at, except without an indicator the owner has to cover up or disable.

which is a crime in certain states (wiretapping laws)

Apple lawyers will argue you can’t access the audio or transcript directly, just an AI interpretation of what was said.

Like someone next to you on a train recalling from memory what you said to your boss.

In most cases "other people" can be seen. A watch is easily overlooked or hidden.

People can usually judge if a situation is public or not easily. With a listening device everywhere that's not the case anymore.

In short: that comparison would be stupid.