Don't like this concept at all. First, as others have pointed out, a button makes it too easy to accidentally turn silent mode off. The positive assurance provided by the switch is one of the reasons I switched to iPhone. Second, my Watch Ultra has an action button. Have used it exactly once since I got the watch.

This may be a minor inconvenience but It's a little disappointing to lose the ability to tell at a literal glance whether your phone is in silent mode or not.