I don't think so, the people I've observed that have this enabled are very good friends of mine and I don't mind that they get pinged when I post something inconsequential. It's also not my call, I'm posting info for them to see and if they want to use a client that notifies them any time I post it then that's their right.
But there is definitely the potential for stalker-ish stuff there. I suppose in that case, yes the friendship would be the problem.
--edit-- But when the friendship isn't in question, I guess I find it a bit weird and overly-reliant on FB to have your phone set up to alert you every time a 'close' friend does anything.