I see Withings has a few of these hybrid watches. Another quite popular one is their more rugged looking diving watch with 10 ATM water resistance (Withings Scanwatch Horizon, looking more similar to a Seiko/Rolex). The Scanwatch Light has an IP rating of 5 ATM.
They are all aimed very much at those who primarily like watches, with some smart functionality. Usually these functions are exercise, health, and notification type functions. But there will be no actual apps that install or run on the watch, so if like using a shopping list app on your smartwatch, that won’t be possible with the hybrid watch. The same goes for not having music controls or navigation directions.
So, apart from looking like a real watch, the other big plus is a good 20 to 30 days of battery life between charges.
Not a lot gets said about the analogue watch hands, but if the time of day causes either the hour or minute hands to obscure the LCD window when the crown is pushed to wake the LCD display, the hands instantly revert to 10:10 so the full LCD display is clearly visible. The app also has a setting to “true” them to the correct position.
See https://www.androidauthority.com/withings-scanwatch-light-review-3391231/
EDIT: See also XDA Developers best hybrid smartwatches in 2023 at https://www.xda-developers.com/best-hybrid-smartwatches/