Yes.
I have a "dive watch." It is a Timex Ironman and it meets 100% of my diving needs.
I don’t really use it when diving because my dive computer also tells time and is very reliable. In the event my computer would fail I would switch to my dive watch and dive tables. Some people carry a backup computer but computers are so reliable and unlikely to fail it is much more reasonable to carry a watch and dive table.
Some people will say my Timex is not a real dive watch but it has been diving more than most so called dive watches and if anyone would like to send me a different type I would be happy to review it for you.