100%
My biggest gripes with Time Machine are the lack of visibility, the silent failures and the inflexible scheduling. I know there are methods to work around the last one, but the first two are paramount. It does do consistency checking, at least as far as the logs say, but it says nothing about the health of the backup container.
While most users don't really want to know about this stuff, I feel like it's important enough to have a more comprehensive UI to provide some insight into the feature and the associated health.