It's all about balamce IMO. Whenever the aesthetic side is concerned, be it paintings, houses, people, dogs, horses or shotguns, if there's one feature crying for attention and pushing the others away, the balance is ruined. It's more of a how it's done rather than what exactly is done, and, probably, the same blank of wood can compliment or ruin the perception of the same gun, depending on a number of variables, to say nothing about tastes being all individual and arbitrary. But the theoretical possibility that a gun CAN be "overstocked" is there, I think.

Besides, I always thought the best guns from the good old days had the stocks made of strongest, rather than best-looking, wood...