I think those that have slimmer wrists (i.e. 6.75" and less) may have challenges finding the right balance between fitment and comfort.
I feel the problem (for some) is related to clasp design and the fact that the area of the bracelet with holes doesn't bend too much. The holes limit the sizing, so if one's wrist size falls in between holes it can be either too tight or too loose. The other thing is because the mesh area with the holes doesn't flex as much, the comfort level may also depend on one's wrist shape.
Compare these two pics of the holes side vs. the mesh area with no holes, both bent to their near maximum.
Because the area around the holes doesn't flex as much, it limits how well the bracelet can conform to one's wrist shape. If it happens to conform, you're probably in the camp that feels it's super comfortable. If not, you may have challenges with comfort or may have gaps if wearing looser.
In my case, the small bracelet gave me a much better fit than the standard. The comfort is "ok", but I always envy those who say it's very comfortable. However, I've only had my watch for a little more than a month. If the area of the bracelet with the holes becomes more flexible over time, I think the comfort level will increase.
So I am also curious about what long term owners have to say about whether the bracelet becomes any more flexible over time. Especially for those who didn't feel the bracelet was ultra comfortable from day 1, but perhaps became more comfortable with time.