That's a cool-looking watermark, Jay! I don't have much experience with watermarks outside of DeviantArt, where the ones the site provides don't look very great and can be kind of distracting. But I DO think it's important to make sure your artwork is visibly related back to you, so people have a harder time stealing it!
I have a watermark, which I have embedded in the logo of PA:
In case it's not apparent:
It's a design I created wayyyy back in the day (2002?) and used to doodle at the bottom of my drawings. Just decided to keep it and hide it a bit more carefully now. And yes, it actually does have some origins and relevance in PA :)
I just use the logo of the comic it's from. I think the "DO NOT USE ME" watermarks are mostly a waste.
I've removed many over the years and the ones that are intrusive enough - to not be worth removing - ruin the image anyways.
I like watermarks as artist signatures.
That's what I use them for.
Better than a name actually. No one really wonders "Who made this?"
Mostly they ask "Where is this from?"