The bezels around the Pixel Watch’s display are not small, that’s true, but they’re not noticeable unless you’re looking for them. Google’s software does a great job of blending the content on the screen into the edge of the display.
This makes total sense, and it seems Google is doing exactly what Apple did to great effect for years when the Apple Watch (especially the Series 0-3) had chunkier bezels. Is it a little disappointing that we're comparing the bezels on Google's 2022 watch to what Apple was shipping 7 years ago? Sure, but not one person Ive' seen use one of these has said they were distracting or made the watch unusable.
I look forward to this bezel shrinking in the future, but for now I hope people enjoy the Pixel Watch; it's been a long time coming.