Earlier quoted context omitted.
The reason the Fibonacci sequence is used is because we don't think in an incremental scale but in a logarithm scale. In other words, we think that some simple takes 1 day, a more complex takes 3 and a even more complex takes 5 days. Usually we don't jump from 1 to 2 days when thinking about a task effort.
You could have also used approximately logarithmic scale that everybody is familiar with, namely, cash! You know, 1,2,5,10,20,50,100,200,500.. But no, here we are doing science, that's why we use Fibonacci, hey even plants and rabbits are using it.
Unfortunately, the phrasing would be more like, It doesn't matter what's true, it matters what i can sell to management.
In the absence of evidence to the contrary, i think i'm ready to take a side close to yours. It's useful to expand error bars exponentially as you move away from the time of the estimate, but there's nothing special about fibonacci.