I think it would rather help if there was two buttons; "watched" and "hide". Both remove the item permanently from the visible catalog for you, "watched" adds it to a profile-private list of things you have watched.

This would help me to quickly sort out if I would consider watching something and I could reduce my watching list to the things I'm actually currently watching instead of abusing it for "might watch at some point".

If I have watched something I don't want it to be recommended to be and if I don't like something I don't want to see it again.