PHB already gave us Vengeance's Hunter's Mark / Misty Step / Vow of Enmity and Ancients magic-resistance aura. Watchers isn't really breaking any new territory, it's just Paladin being Paladin.
IMO it is power creep. If you don't feel that way, that's fine. It is a matter of opinion.
I understand it. It is a natural progression to tempt players to embrace new designs/concepts--in this class, a new subclass. It it doesn't appear "better" to at least some of the fan-base, it is a failure. That you like it as it is means they were successful.