Recognising the fact that an 'Emergency' may be somewhat subjective, is there a tendency to activate the ELT/EPIRB too early?

I recall a photo a few years ago (may of been on here or in a magazine) of a yacht just off PNG that had run aground on a reef. It was sitting high and dry with no chance of flooding (in fact it was drying out), with a few other boats visible in the background. The crew activated their EPIRB and an Aero Rescue asset was dispatched from Cairns.

Same as little boats in big swells (THIS IS NOT A CRACK AT FRANTS MATE - but it did make me think of it). It might be rough. It may be uncomfortable, and you may be sh!t scared. But I am almost certain this doesn't call for other peoples lives being put at risk to come and get you.

I have never done marine rescue, and I am sure Morning Bird and a few others here will have some stories too, but I have been involved in the SEARCH part of SAR from up high. Not all, but the majority of what I observed, I walked away just shaking my head.

No other persons life is as important as yours when panic sets in, and an emergency can always be downgraded. I get that, I have been bad sh!t scared too a few times. But Australia doesn't have a lot of quick response SAR assets. If you are sitting on the bottom and you can step off and walk ashore, you are not in an emergency, and all you will be doing is taking that asset away from somebody that may truly require it.

All I am suggesting, is give your situation just a nanosecond more thought before you hit the panic button. But then again, it's your life too and not mine (until someone comes looking for you).

It is better for everyone for a successful rescue and delaying too far may end up being a bad outcome. For the rescuer finding wreckage, finding nothing or recovering bodies is stressful.
However, being aware of what happens when you do ask for assistance is essential to avoid wasting time, money and risking people.
I have a real example. In 1976 (I think) I was driving down to Victoria after Christmas in Sydney and decided to get a sleep overnight in my cabin at the Naval Air Station, Nowra where I was based with the S2 Tracker squadron.
About midnight I was rudely woken by my CO who said a S2H yacht, Metung, had declared a Mayday 50nm off Jervis Bay and we were to go find it. The Duty Officer had told him he had seen me at the bar.
He and I and another guy who I can't recall now launched at about 0130 and spent 7 hours scouring the ocean off Pt Perpendicular. Didn't find anything.
After we landed we got a call the yacht had been in Ulladulla and the crew at the pub since the time we had launched.
They declared the mayday when they changed tack off JB and started taking water. They tracked straight into Ulladulla, went to the pub and thought it a great joke when told Navy and private aircraft and boats had been searching for them.
No big deal, I got to go flying, but an example that still happens.
I can accept declaring an emergency too early, I can't accept venturing to sea unprepared for the conditions and then with a no worries expectation somebody will help me out. I had a discussion of sorts at the CYCA with an experienced racing skipper who said it is the responsibility of Navy, police etc to rescue yachties and they are paid to risk their lives for us. GRRRR.
I may find myself calling for real help one day, but I hope it isn't because I was negligent in the first place.

Good stories.
You must be prepared to abandon your yacht if you hit the panic button, and scuttle it if required, & now (quite rightly) receive a punch in the face for the privilege of being rescued