There are digital watches that meet it.
But
Ever since ISO ratings came in things have changed. 150m used to be the dive watch threshold
But ratings are there for a reason. ISO is relevant as it is the one that says a 50m watch is good for 50m and 300m is good for 300m
You have to understand a watch may test and hold a rating to 50meters but not be recommend for diving due to not having the right display or bezel.
You can’t just pick and choose ISO
Omega couldn’t put a 50m rating in a booklet if it hadn’t tested to 50m ISO specification
You are right a 50m watch is not usually suitable for diving.
But
@Archer is right as it is suitable to go 50 meters in water without a issue.
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