It's important to distinguish "watermark" from "signature" (and the text/binary distinction is not relevant here):
Signatures are extra data, added out-of-band to the existing data. Out of band data, by definition, is easily detected and stripped, so the utility of a signature is that authoring one requires secret knowledge. Philosophically, the presence of a signature is a kind of authentication, a desirable thing that is hard to grant and easy to revoke (the smallest change to the data renders it invalid).
Now, watermarks: if you flip it round and say you want to glue on a piece of undesirable data - something that represents disauthentication, like a cursed black spot of written-by-LLM - then you want it to resist removal efforts. And now right away you have a hard problem because your sticky data must be in band, or else it is trivially stripped. Not only that, in fact, it has to look enough like real signal that it isn't easily filtered. And on top of that, you can't distort the real signal too much, or people will complain. So you're cornered into doing a kind of steganography - hiding small amounts of information in the entropy, biasing the signal in perceptually plausible ways that are detectable to those in the know. Cartographers add fake streets ("trap streets") to catch plaigiarists - for LLMs, watermarking might take the form of subtly odd word choices.