GOT and Watchmen technically don't even count towards HBO Max as those were both finished before HBO Max even launched. Sure, they are on Max, but people have already seen them on HBO if they wanted to. Plus, shows from HBO go onto iTunes and Amazon for purchase, so they aren't exactly "exclusive".
What HBO Max is lacking is actual quality Max Originals. I'll give them that The Flight Attendant was really good, but it also seems like hardly anyone knows about it. HBO Max is lacking that "Must-see" exclusive original. Snyder Cut was the biggest buzz thing they've had, but I think a lot of those watchers were either already subbed or were one and done's (one month only). And to sort of add on to their problem, I don't believe they can make any Potter shows until the contract with Universal is up and Amazon now has Lord of the Rings.
Peacemaker should be a really fun show for the service, but I feel like this is the type of show that should've been ready to go at launch. Peacemaker will probably be up there on the level of The Boys for a good comparison. But that's not even coming until January.