Those buttons are the menu. The idea of menus on watches is a modern ux extravagance.
I don’t have the satisfying answer as to why they dedicated a button to 12/24 hour time but my guess is that it’s simply a cool digital feature and stands out against the limitations of analog watches.
To add to it, I always kept the manuals around, because remembering the key press sequences was akin to doing combos in arcade fighting games.
A few months without doing them, and it was hopeless trying to remember how to do them again.