Circling back to your original question, to the network at large it indeed doesn't really matter how often you update your channels, since your peers will act as a buffer and coalesce any redundant updates on 60-seconds windows. However, if you get really spammy about it and keep sending updates every second, your peers might want to rate-limit or blacklist you.

Now for a channel update to be effective, you want it to reach the nodes that might try to route through said channel. Only then can you start to observe if the channel update leads to any change in behaviour and, if it's still not what you expected, update the channel again. In other words, if you update your channels to frequently, the risk is that you don't let enough time for the new information to reach other nodes, and hence the update will appear to you as not having resulted in the expected change in routing flow, but that may only because the update hasn't actually propagated yet.

To put yet in other words: if you update your channel parameter based on the observation of the routing flow in your channel, then you need to wait enough time for any update to propagate before assessing whether this update had the desired effects or not.

Through this lens, I'd say there's definitely a propagation aspect to it, since updates that are so frequent they don't let enough time for previous updates to propagate don't seem very useful to me (unless it's just to amend a mistake/typo made in a previous update, of course).