Your contribution graph should never be assumed to be an authoritative statement on your activity, and for sure, you can have dozens of typo correction PRs on a day versus another person's major feature, and the typos look like you did "more".
But what I found was very neat about the contribution graph, and why I was so disappointed they removed the streak counts, was it was a good self-motivational tool. As a hobbyist coder, having an encouragement to keep a streak going by looking at code (either mine, or someone else's), and try to improve it in some way on a daily basis was a really good push for me.
I think it's obvious from my full contribution graph (visible at https://github-contributions.now.sh/ under my username) where I was using the contribution graph/streaks to encourage me to contribute more in late 2015 and early 2016, and you can see how much it fell off when they removed the streak count in May of 2016.
Which is to say, healthily used, you can be honest with yourself and use it to encourage yourself to continue participating, but obviously, it's bad as a metric of how much a person codes in general.
https://github.com/gelstudios/gitfiti