Last week Watts was drafted to the same club where Cornelius spent five years, after the Lions selected him with their first live pick in the NAB AFL Draft at No.65.
The rangy 194cm versatile key position player said seeing what Cornelius had gone through had opened his eyes.
"It's unlikely he'll ever play footy again, so it just puts it into perspective, the opportunity I've got here," Watts said at the Gabba on Tuesday.
"He had a good run here as well, five years (and 25 games), but unfortunately he didn't make it. He's been really good for me this year to learn from."
Cornelius suffered a dislocated knee that fateful day which severed the blood vessels and cut blood supply to his lower leg after taking a spectacular goalsquare mark.
Watts said the pair had spoken briefly since the draft.
"He just said to make the most of this opportunity," Watts said.
"I spoke to him on Friday, but not much about the club, more about his injury - obviously that was pretty horrific.
"Ace (Cornelius) has been a good source of support for me. I've always asked him questions - what it's like, what the training's like and what the boys are like."
Watts has been given the honour of wearing the Lions' coveted No.20 guernsey next season, previously worn by Brownlow medallist Simon Black.
Following Black's retirement 12 months ago, the club elected not to offer the guernsey to any of the 2014 playing list, but it will be back in service next year.
Watts said he found out on Saturday, when coach Justin Leppitsch visited his Tasmanian home.
"They gave us a box with my jumper in it, so dad opened it up and said "you've got No.20".
"It's a shock, but an honour as well. I've got big shoes to fill."