I presume that the watch wasn't the first object it encountered on it's travel from the muzzle.
If it had passed through aircraft metalwork then it would have not been bullet-shaped, maybe flattened,
and would have had much less kinetic energy, so the the watch damage looks right to me.
I've mentioned before the ebay charlatans that take a penny, hammer a punch through it, and jam
an old ww1 bullet in the hole. They should all be shot themselves.
It's funny how the penny involved is worn out as if it was taken from change in the 60's.
They can't afford to destroy 1916 bennies in UNC......