Should you buy the Apple Watch Ultra (1st gen) now or wait?
Skip the Apple Watch Ultra (1st gen). A newer model is already out, and it does more for the money. Paying for this one now means paying for a watch Apple has already moved past.
Who should skip it
Skip it if you are shopping new. It works only with an iPhone. Apple lists the models it pairs with and the iOS it needs, and it does not pair with an Android phone at all. A watch this old runs fewer of the newest features, and each year it gets closer to the end of its updates.
It was the first Ultra, and it set the shape for the line: a big titanium case, a bright screen and the Action button. The newer Ultra keeps all of it and adds better parts and longer software support.
What you get
You get the shape most people picture when they think of an Apple Watch: notifications, Apple Pay, workout tracking and heart rate, all in a case that fits under a cuff. The newer watch keeps all of that and adds better sensors, a brighter screen and faster parts. The Apple Watch Ultra (1st gen) is not broken. It is just behind, and behind is a bad place to start a purchase.
Price and timing
We have no confirmed price check for this exact model, so the page holds no price verdict for it. That matters, because a deep enough discount is the one thing that could make an older watch worth it. If our published price verdict for this model ever reads buy, this answer changes with it. Until then, the newer model is the better place to put your money.
If you already own an Apple Watch Ultra (1st gen) and it still does what you need, keep wearing it. If you are buying, buy the newer watch instead.