Indeed
Atoms change energy levels when electrons descend from one shell to another. This is what happens when fluorescent lamps or neon lights shine. If radioactive decay took place, the watch would run out of gas eventually as the gas changed to another element, or at least another isotope.
After seeing so many watches that set themselves via short-wave time signals, I was waiting for a watch like this to go beyond quartz. Too bad it's so expensive. Hope that a cheaper, slightly less accurate, but more stable, rubidium version comes out soon.