Don't bail out on watching it. It really is fascinating to see.
But for sure don't prioritize watching over helping your wife out. Pushing on her upper back while she's pushing helped my wife out a ton. There was a clear difference in the baby's movement through the birth canal when I helped out.
But have fun! It's such a wild, exhausting time. Your wife is going to struggle so be supportive!
Sorry for the unsolicited advice, we had our first kid a couple months ago, so it's still fresh in my mind.