Mel,
I don't think you are missing anything. Of course directing events to those
most interested can be a good thing. The usecases I refer to is where the
description, maintenance and management of "interest" is not
straightforward. In the UI case, UI frameworks allow you to listen for
relatively simple events (mouse clicks, key presses, moves, ...). These are
easily filtered, copied, described and so are easily directed to particular
listeners.
The UI frameworks generally do not allow you to receive notification only
when, for example, the right-shift is down and the click is in the title bar
of a window whose label is... Rather, you listen for the base events and
then synthesize the rest. Clearly you will get more notifications than you
want but that is the trade off.