Apple purposefully leverages its closed ecosystem to generate social friction amongst kids in order to drive hardware sales, making them persona non grata in my book.
As mentioned by others in this discussion, Apple does have a way to limit the functionality of an Apple Watch, as outlined: https://support.apple.com/en-us/109036
You can do similar things with an iPhone or iPad. Turn off all kinds of stuff entirely, require a request (comes through in the parent’s phone) to override. No Web browsing without asking? Done. No installing apps without asking? Done. Web browsing allowed, but allow-list only? Done. Allow some app, but max one hour per day? Done. Lots of stuff.