It does take several taps to get the power button to work, but it does work on my watch.
Honestly I seem to be having the opposite with my Ultra1. After the 10.0 update my battery took a slight hit and was no longer giving the 48+ hours between charges, but I updated to 10.1 yesterday at 4:11 pm(16:11) and here about 21 hours later I’m still at 72%. Not doing anything differently; sleep monitoring, always on display is on, using weather widgets, etc.
I have shortcuts set up for my work breaks (lunch, coffee) so I will be able to get back to work on time.