Older Apple Watches F'ing Up with WatchOS27 Roll Out

Anyone else having issues wit their Apple Watches draining battery and red lightning bolts?

My Gen 1 Ultra gave me a low battery alert after 11 hours on my wrist starting with 100% battery. I put it on the fast charger for 2 hours and grab my old S4 out of the drawer. After 2 hours I go to put on the Ultra and it's only at 35% battery and warm. I google the problem and go to put the Ultra on a slower charger and open the stopwatch to track charging time on on S4. Suddenly the red lightning bolt and time are displayed and the S4 reboots and drops from 85% battery to 10% battery. I go to turn off the devices and the S4 is stuck in a reboot loop.

Anyone else experiencing some messed up stuff on Apple Watch devices that can't even get WatchOS 27?