Conformation shots ask a person to tear a horse apart. No horse is perfect; however, do you want every flaw on your stud with a large stud fee to be picked apart by every weekend warrior?
You are bang on right that no horse is perfect, but I would argue about conformation shots inviting people to pick a stud apart.
If you have a stud and you want people to use him, or you want to sell his offspring you need to be as sure of his conformation, performance and temperament as possible. You have to get out and promote him and be as aware of his shortcomings, because as you rightly say, no horse is perfect, but you have to admit that and push his good points.
If I am looking for a stud for one of my mares I want something that can improve on their shortcomings.
I like to see conformation shots, under saddle shots seeing the horse doing what he has been trained for, and then either liberty shots, or a video, so you get a feel for the essence of the horse. That is where the arty pics come in, you are after all selling a dream
Examples, my current favorite boy
In the ring
In the raw having fun
Just for fun