The vast majority I've seen are black and white, with a color layer on top that is disabled when in "low power / sunlight readable" modes. And many of the smartwatch-focused devices (rather than Garmin's super pricey and gigantic "hiking for days without a phone so it solar charges and has gps and..." watches) only use OLED, even if the brand has MIP screens in some other product lines.

I haven't seen anything even close to what pebble's color watches did. Banglejs is by far the closest, with 6 colors and a much more muted screen in general.