No, the point is to get you to stand when you've been sitting, which is based on advice Apple received from medical professionals. If you do that on an hourly basis, you've met the objective. If you do not, you'll see a gap in the graph.
Apple Watch tracks standing by movement and not elevation. If you're moving your hand around a lot while sitting, it will register it as a stand. If you're standing but not moving, then it'll miss the stand count. I think the idea is that you're supposed to get up and walk around for a minute for it to properly count.