Exaaaactly. When things get too monitored, suddenly you become the internet's goalkeeper and have to explain why certain localities had trouble getting to the service and why it wasn't your fault. I mean, it's neat to see how the internet's interconnected networks depend on eachother and how transient outages look, but it's just not fun to have to constantly defend each outage that you see when you've got hundreds of monitoring points.
There really needs to be some agreed upon definitions of downtime and degraded performance before someone goes hog wild with the monitoring. 