I used to use a mechanical dive watch for pool instruction. On two different occasions I noticed that it was running and keeping accurate time, but somehow during the pool session it had lost time. One time it was about 10 minutes, and the other time it was close to 20. The obvious explanation was that it had stopped for that length of time and then started again
I guess I must just have been lucky, and you very unlucky. I've had a couple of clocks do that in my life, because the mechanism is exposed to the elements, but never so far a water-resistant watch, cheap or expensive, mechanical or digital. And I don't know anyone who has admitted to that happening. If it did, it would probably do so at other times when the malfunction could be detected.
I may be foolish, but I'm prepared to trust a watch that I've used for eight years and which has never at any point given any cause for concern. But in any case I always carry a redundant computer/watch. Then we get into the realms of two devices both failing at the same time in the same way, or at any rate with the same effect. Reckless as I am, I'll chance that.