I would like to think that there is some truth to the notion.
As mentioned, the reason that standards can work is because they are developed using a consensus model in which there is a requirement for solid agreement that substantial objections are resolved. This doesn’t mean that everyone has to be happy. It only means that everyone has to be able to accept or at least live with the document. While to some it may sound like an invitation to the “tyranny of the minority” consensus requires that every person who has legitimate concern needs to be heard and every attempt to resolve their major conflicts be resolved.