Disclaimers: 1) This is a single data point and I know this does not work or apply to everybody. 2) I am not trying to brag about my battery results - It has only been a week. 3) This might help a few folks with bad battery experience.

I received my watch on the 19th. I set up the watch with a recovery from a backup of my previous GW6 44mm. I charged the watch to 100%. My initial settings: BT, NFC and Wi-Fi are on, Mobile Networks auto. Power savings, AOD are off. Raise wrist to wake is on, screen time out 15s. I am using the Ultra Info Board watch face with a dark blue background. Default health settings. I installed Google assistant and didn't pay attention to its settings. It drained to 0 within 24 hours. I tried another day thinking it would settle. It did not. I realized that Google assistant used up most of the battery (I also realized that it inherited the listen to "hey Google" from prior backup).

I reset the watch and started with "new watch", no restore from backup. I used the same settings, except: NFC off, and LTE off. I believe that aside from Google assistant, the LTE on auto caused most of my battery drain. I thought that since I am not using it, auto will turn it off - obviously, it doesn't work that way. Maybe there were other software and UI settings that didn't carry over well to cause additional drain.

Again, this is a single data point, but it restored my hope that this will get better and might even help a few.
After 3 days, I have 10% left on the watch (if you do the math, 2d 18h plus 7h, I should get 3d and 1h). All the features that are essential to me are on. I used it for two 30min indoor bike exercises (no GPS, with Garmin cadence sensor) during the 3 days. I will also try this with Power saving on. It should possibly get me another day.
My first two suggestions are, do not use a backup and turn off LTE and try. If I ever needed LTE, I will be upset again. YMMV as with any suggestions. Good luck.

Edit: At 2% the watch went into watch mode after a little over 72 hours exactly (or 3 days).

Screen captures taken within the same minute

Update: With Power Savings on. I'm not patient enough to wait this out 4-5 days. After exactly 2days of use, I have 55% left and an estimated additional 2d 11h left on the watch, so a total of ~4.5 days. I'm Okay with that.

Idk what's going on, but my battery life has gone from 3 to 4 days, to just barely over a day. Any suggestions would be great.

Ive cleared my cache, have google assistant disabled, auto workout disabled, etc. If I had to disable a bunch of stuff just to get two days of battery life, I would've waited for the watch 8 or wstch 8 classic.