Hi Blake,
Unfortunately the only information I have for you is of no use. I have the same watch with the same symptoms but have not found a fix yet. The only possibility I see is using a special iBus connector that allows you to connect the watch to a computer and update the WatchOS just like you do for an iPhone, but I'm resisting buying one due to the $70-$80 cost that's frankly not worth it for an Apple watch this old; I can buy a functional one for half that off eBay.
Here's my own post on the subject that lists everything I've tried.
[post|766270|Displays Apple logo for a second then back to black. - Apple Watch - iFixit|new_window=true]
I've subscribed to updates on your question in case you get anything useful where I didn't. Hope you have better luck than I did.