Having worked for eons in production, I can tell you that's not true. You see, coloring and tech prep work can be done on 95% monitors (compared to sony for example). Certain broadcast techies need 100% (broadcast engineering isn't in studios), and I would definitely challenge that as well - knowing and working with these people over the years.

What is happening in studios is this a) there needs to be a monitor that one can work on (95% IS FINE, broadcast engineering isn't in studios) b) wow factor for clients and dick showing contest in-front of them.