Yes and no... You get 2 years when there's no computer connected - but when your computer connects it starts shoving packets out at 50Hz and draws 200uA - so you're only looking at around 40 days.
Potentially you could try turning Bluetooth off for a while when it hasn't been used, and then turning it back on when the button is pressed.
It's something that could be changed in firmware (maybe an option?) - but a slower poll rate when connected means you can transfer less data per second, which means that using the REPL and uploading firmware gets painful.
I did some measurements of my own using a similar method. Basically I 3D printed a CR 2032 replacement and put a cable on top and below the replacement.
The numbers I measured are a bit higher than what you mention, about 270 uA when connected, 8 uA when not advertising and have the watch set. When advertising the current fluctuates so strongly that it's difficult to judge. But it seems in the same ballbark of the 20uA.
So all in all it's all the numbers are in the same ballpark and the differences in measurements could be measurement errors on my side. So battery lifetime seems to be excellent and I can now measure how much current different applications would draw.
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