That doesn't look like normal bracelet stretch. Usually bracelets are stretched where the pins are ground down from friction and it allows more spacing between the links. See photo 1 below. It's from a Rolex jubilee but the concept is applicable to the Omega bracelet. Those pins should be fully round but they have been worn away by friction from the connecting link.
The bracelet in the photo above does not appear to have that kind of stretch. It appears like the links were once pulled apart (presumably for refinishing) and then not fully compressed back together. See the photo below that shows the gapping circled in red. Or perhaps they were pulled apart through wearing it.
If you watch the video below, at 14:32 you will see how the links are compressed back together once pulled apart. It's a Rolex oyster but the concept should be the same. You can also watch the rest of the video for how "permanent" links can be pulled apart.
Since I have the tool that compresses the links back together, this bracelet would not deter me (if that's all the problem is). Any good watchmaker should have the proper tooling to fix this in a couple of minutes. FWIW, it does not look like this is an issue with links that are removable--just the links that are "permanent." However, if the problem is that metal has been worn off the sides of the links then compressing likely won't fix the issue. But it doesn't look like material is missing. The sides of the links look straight across, not curved where material was ground away.
As to whether you want to bother with that is up to you.
Perhaps
@Archer could shed more light on this matter as he's undoubtedly seen this issue before. Perhaps I'm off base.
