It's not the battery folks; even people with Series 9/Ultra have reported the same thing in this very thread. Do NOT reply on Apple fixing this by giving them more money to replace your battery. This is absolutely software based, it's definitely a bug and Apple needs to get off their collective as*es and fix it.
That aside....my watch has been working ok since it died completely the other day.
I posted the other day that my watch died and took at over 4 hours on a charger to turn back on and was only at 16% when it came back on. I charged it overnight and it's now been lasting all day again.
It would not charge on my charger but did on my wifes. Her AC Adapter is lower amp and I have read in other threads that when a watch won't charge, it needs to be a lower amp AC Adapter.
If you have a lower amp charger, try that if your watch is dead, or try letting your watch die completely and charge it using a slower charger. Obviously no guarantees it will work, but maybe letting the watch discharge completely is blowing out the issue?