It's apparent some people are having difficulty activating their cellular-enabled Apple Watch, and Apple has admitted to a SW issue that can cause problems when it's supposed to connect to the cellular network, and instead, connects to un-authorized WiFi Access Points which might not have Internet connectivity. Maybe the delay is because of one or both of those issues.
Did you check your order status on vzw.com/orderstatus? A friend of mine received a delayed shipment email and was given a new date.
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