That's true, but it's little consolation if the delay is long enough to cause your forward plans to be messed up. If the airline can put you on another flight within a few hours the damage is probably minimal but if you lose a day it can be very inconvenient +/- costly. On long haul connections we always opt for the "peace of mind" approach and aim for about 3hr minimum transits but we might cut that back a little if we're passing through an efficient airport like HEL. A few hours passes easily if the bar's open in the lounge!But if it is all booked under the same PNR then you are protected and it’s the airline’s responsibility to re-accommodate you.
Imagine if the delay caused you to miss the departure of a week-long cruise or tour - the damage done to your trip would be far more than what the airline could possobly compensate you for for. To me the stress just isn't worth skimping on connection times unless it's a short route with lots of alternate flights like MEL - SYD etc.
Another point is that there may be a significant disconnect between what the airline thinks is adequate and what you expect; and if their attitude is "take it or leave it", what are you going to do, because ranting and demanding something else will just get you ejected from the terminal by security?