Actually a solid early-game item

It is the only easily accessible watchful weapon-slot buff (up until you get MYN 5 in watchful) aside from the Patent Scrutinizer and can be used to reduce any of the other stats, like shadowy if you're trying to fail robbing a drunk rat to grind baptized corpses. It's especially useful for reducing Persuasive (Strict WiS Non-fate), and Dangerous unless you're willing to shell out 480 echoes for a ratwork watch.