There’s a lot of the language around these that could be changed, but in my opinion this is better than the alternative of not raising complaints.
Complaints mean issues get read by more eyes, including the teams responsible and in aggregate by the regulator.
As an example, throughout the last ~6–9 months of my work on Disputes, we used complaints data to target exactly what needed to be fixed as a priority. The financial payouts made it easier to justify putting in that work by putting a real cost on not fixing a bad user experience.
We used other data too (including community forum posts, data from the systems themselves, and user research), but the complaints were a fantastic tie breaker between projects and gave us a wide variety of cases where the current system had failed people. We could read not only the aggregate data but also complaint summaries and drill all the way down to find out exactly where things went wrong.
While I wouldn’t ask you to make more complaints, and the compensation payments are outside of my scope, the fact that complaints are raised and not hidden away is important to Monzo’s ability to improve over time as a bank.