I guess it comes down to risk evaluation. I open up my reg every year, but don't usually replace any parts. I've often serviced regs and wondered why I was removing perfectly good parts and replacing them. I think most techs would agree that many regs that are serviced, don't need to be; it's a money maker.
Before moving here I spent weekends on my boat and dove perhaps 130 dives per year, mostly in fresh water, on average with the dives averaging perhaps an hour in lenght. I noted that after about 100 dives / 100 hours of use, my regs would become more prone to leaks due to wear in both the low pressure and high pressure seats. This meant that encountering a leak on the last 30 dives or so of the season was much more likely if I did not service the regs mid season.
If I added salt water to the equation, or poor rinsing, poor maintainence, excess silt, sand, etc, all of those would be expected to further shorten the interval between required overhauls.
So...if a diver only does 20 or 30 dives per year, mostly in fresh water and properly soaks and rinses the reg properly after each dive and in particular after each salt water dive, the reg may not need a service once per year.
On the other hand, I see numerous regs each year where the diver does no more than 20 or 30 dives per year and does not rinse the reg, or does so improperly and gets water inside with the result that the reg is, at a mimimum, badly in need of service and in a few cases per year is barely salvageable.
The other variable is the seat material and the design of the second stage. An unbalanced second stage tends to have high spring pressures that engrave the seat while the reg sits in storage and when this groove gets excessive, it will leak. So a second stage that has just been sitting on a shelf for a year or two with zero dives, may still need a new seat. With a balanced second stage, they tend to have lighter spring pressures and this is less of a problem but can still be an issue after a year or two of non-use. Some companies have over the years tried various balance chamber designs that remove any spring pressure when the reg is not pressurized, but these are more complex and also increase the potential of water getting in the reg during normal rinsing, so they will still need an annual inspection at a minimum.
Then their is the liability issue.
As a tech, I agree many of the regs that get done annually do not really need it at that particular time, but it is hard to tell how well the owner has treated it and will continue to treat it. If I just inspect a reg and call it good and in 6-8 months of normal use it fails during a dive trip, the owner will get cranky. If the reg fails and the owner drowns, his widow is going to sue me, especially if the reg manufacturer requires or even suggests an annual service.
So from a liability perspective, if you bring a reg in for annual service and tell the tech that you only dove it once in fresh water, the tech is going to ask you to be very clear on whether you just want it flow checked to assess it's current functioning with no guarentee what it will do next month, or whether you want an annual service and if you ask for the latter you are going to get the latter. Don't ask him to just open it up and do whatever he thinks best as if he has half a brain it will get a full annual service.
I periodically get asked to work on just a second stage as the first stage has recently been serviced. If what I observe on the outside of the first stage suggests differently, I do the first stage as well as I do not want to set my self up as the last person in the chain who saw a potetnial issue and ignored it.
So in effect, if a manufacturer sets up a service schedule, the shops and techs are stuck with it. Companies that advertise a bi-annual service interval with an annual inspection are not really any better, as it places the liability on the the tech with the result that unless I know the diver, his maintainence habits and the service history of his regs, that annual inspection is going to become a full blown service as both diver and company will pretty sell me down the river if the reg fails prior to the next service.
Personally, I think it makes sense to certify divers to work on their own regs and then sell them parts each year to do their own service work - as long as they assume responsibility and waive their rights to sue the company if the reg fails. In that case, they become the party that is responsible for the condition and functioning of their own regulator and they can service it whenever they see fit.