The whole Apple Watch Ultra thing seems like an uncharacteristically aggressive product choice for them. They're really going after Garmin and other smart watch/sports vendors.
I don't entirely disagree with this, but I don't see the AW Ultra as directly going against Garmin's dive computers. I really can't see a Garmin user going for the AW Ultra when it's time to upgrade. At least not in its current iteration. It seems more aimed at current AW users. Then, perhaps, the aim is to get them to go for the flagship AW with dive functionality.
I looked at the AW line, but opted for a Garmin for a couple reasons. First, I was looking as well for a backup DC, at the time the AW Ultra wasn't released. Second, I dislike rectangular watches/smart watches. Even if I could get over the shape, the AW Ultra would not make sense for me. Possibly for a new or vacation diver, but once I factor in the cost of an annual subscription, with the cost of the hardware the Garmin just made more sense.
I just don't see enough of an effort to really try to tackle the descent line. Perhaps just testing the waters to see if they want to really jump in.
There's a huge difference between an actual dive computer, where the depth sensor is the foremost primary concern, and the Apple watch where it's a minor technical afterthought and ideally should take up as few cubic micrometers as possible and cost as little as possible.
If it truly is a depth sensor limitation, then I still don't get it. Garmin managed to squeeze in a more proper depth sensor, and still have the same constraints. The Descents are based off of other watches in their line, so size would be a definite concern for them as well. Cost always is.
www.te.com
You can have a 5 bar sensor for $40, or a 30 bar sensor for $70. Obviously those prices don't apply exactly etc so no need to nitpick, but I think assuming that Apple would put a higher spec sensor than necessary just for fun or future room to experiment is a stretch when it might amount to millions of dollars on the BoM. I would rather assume that to be a firing offense.
I can guarantee that Apple is not paying anywhere near the prices in the link. They have lots of influence in the electronics world. Pretty sure they'd be able to lock in whichever sensor they wanted to use at largely the prices they'd want. If supplier A doesn't want to sell at that price, I'm pretty sure another would jump on it.