I'm not hypochondriac and don't use any of the health monitoring features. What I use it for:

* Notifications (imessages mainly, but anything that sends a push notification to your phone can also notify you on your watch)

* Quickly responding (thumbs up/down) to messages

* Apple Pay

* HomeKey (I can unlock all the doors in my house with my watch)

* Some apps (like AllTrails) have nice watchOS apps which give you the important info by glancing at your wrist.