Is the Watchtower named for the "Watchers" mentioned in the Bible?

Isaiah 21:8

New Revised Standard Version (NRSV)

Then the watcher called out:

“Upon a watchtower I stand, O Lord,

continually by day,

and at my post I am stationed

throughout the night.

Faithfully, for 120 years The Watchtower has kept watch on world events and their prophetic import. (2 Timothy 3:1-5, 13) God’s watchman class and its “other sheep” companions have used this magazine in vigorously proclaiming to mankind that the vindication of Jehovah’s sovereignty by Christ’s Kingdom is at hand. (John 10:16) Has this witness been blessed by Jehovah? Well, from the first issue of 6,000 copies in 1879, The Watchtower has grown to a worldwide circulation of more than 22,000,000 copies in 132 languages—121 of these being published simultaneously. How appropriate that the most widely distributed religious magazine on earth should be the one that magnifies the name of the true God, Jehovah!

( The above figures were from the January 2000 Watchtower so of course those numbers are much greater now)