I love my second gen Motorola 360. Having used it daily for a year, I don't think I could go back to not having one. It's just so convenient to have it buzz on your wrist when you have a notification, and to be able to glance down at it and see what it is. Honestly that's mostly what I use it for. I don't use any apps on it or anything, it's really just for notifications. The heart rate monitoring is neat, but I rarely look at the data in Google Fit.
It's also stylish (I have the black one with black metal band, https://smile.amazon.com/Motor...), I've had many people comment on it that they really like it. Or sometimes people ask "Is that an Apple watch?" knowing that it isn't, but more curious what it is since it doesn't look like a traditional smartwatch.
However, because it serves its purpose well, and is still in style, I can understand why they didn't release new ones this year. There's just no reason to upgrade yet. It still performs fast, I get 24 hours on a single charge (with the screen set to be always on, I can double this if I turn off the screen), and it has all the features I need.