That was the conclusion a long time ago. They should have made a new hardware revision, not sure why they have not done so by now.
I also gave up hope and got a Huawei GT2. Great GPS/HR and with local MP3 storage, but lacking a few small useful software features that are present on all Amazfit devices. To me the most important: no display of distance based on steps on watch face.
You´re Right ! I have a Honor Magic Watch and none of the oficial an non-oficial watchfaces show the distance based on the Steps. But the GPS is very good. 2 or 3 secs to fix.