Not possible to read SMS on watchOS 26.x

Reading SMS on Apple Watch 10 with watchOS 26.x is just impossible. When I get the notification one of three things happen:

• when I move my wrist to see the SMS I just see 10% of brightness of the watch face itself and it doesn't react to touch
• when I move my wrist the watch face is still black and it doesn't react to anything, even side buttons; only after few seconds I can wake the watch but even when navigating to SMS app it shows only SMSs few days old, so anyway I can't read it
• in best possible case I almost can read the SMS text because it is almost visible, but it is behind something that in older, better watchOS versions was just a nice animation that knew it should disappear; here's the photo of my watch

Is it normal that in watchOS 26.2 reading SMS is not working as good as reading SMS on some Chinese smartwatch sold at $70 as I saw in a TV ad recently? It was working perfectly in previous OS version on the same hardware.

How to make it work again? Do I have the option to downgrade watchOS 26 and iOS 26?