You're not wrong.

To totally prevent issues with stucco you need to assume:

a.) the stucco was installed to spec
b.) the homeowner maintains the stucco

That means making sure every crack is covered in elastomeric paint, every union where there is flashing or caulking has to be inspected every year or so to ensure they are still water tight/performing. All balconies and patios have to be inspected for proper drainage, etc, etc.

As you can imagine, this happens in ~0% of the homes I have encountered.

Before I got into real estate, I used to fish with a guy with a high dollar offshore boat. He never seemed to work much but had plenty of money. Owned a stucco repair business in Houston. Seemed odd at the time but makes sense now.