So apparently this is the first time Spider-Man met the Watcher. It’s a Christmas tale in which Uatu (once again) breaks his non-interference vow so that one of Aunt May’s friends can see his granddaughter for Christmas.
There’s also a cameo by Captain America, who does a sexy pose with his shield and then tells Spidey not to give in to frustration and self-pity.
Yeah, it’s corny and silly, but it’s fine. Especially for a Christmas comic.