The convection cooling rate (the heat loss) isn't by conduction, it's by convection, so that ratio doesn't tell the story A breeze, or exhaled breath, or heat-induced convection... those are how we cool a too-hot cup of coffee, because they are effective.
Yes, and for a first-principles measurement (without ratioing to other materials) it's how you'd work. But, if you have standard materials available, the balance tips the other way. Trying to get a precalibrated watt-production, and a precalibrated temperature measurement, is TWO expenses and two error sources, but doing A/B against a known material makes you dependent on only one. Using precalibrated parts just adds multiple errors.
A whole-apparatus with precision designed in, and doing calibration against a known material, means the calibration is the single step from a precise measure to an accurate one.
That's usually the winner, because there's only ONE measure error in the budget.