Firstly, in practice, measurement is not free. It incurs overheads of various kinds, and there is no guarantee that any benefits ultimately obtained will outweigh those overheads.
Secondly, the series of negatives doesn't logically imply the initial positives.
Thirdly, it is not self-evident that all of those negative implications are actually true, particularly the first.
I suspect many of us have at some point heard the word "This needs to be managed!", but they always seem to come from middle managers whose own contributions are of debatable value and who never seem to have a good answer when the return question is "Why?".