This is correct, as in some countries, you use your phone to authenticate access to banking applications and payments (e.g., https://en.wikipedia.org/wiki/Smart-ID). However, I find it a bit of a stretch to claim that having iMessage access on a smartwatch is essential for being a functional member of society.

Corporations will always take steps to ensure their profitability. Apple, for example, is incentivized to keep its systems locked down to maintain its ecosystem. There are likely other justifiable considerations behind these decisions. While laws exist to regulate what corporations can and cannot do, there should be a reasonable balance. That said, I don’t think this is a battle worth fighting - people can simply switch to an Android phone, which offers better support for a wider range of smartwatches.

But, gone are the fun days people spam airdropping funny "This is the captain" pictures to everyone while waiting for takeoff in an airplane.