You're forgetting that tanking isn't just about getting hit...you need aggro abilities. Most monks aren't going to snap aggro back the way taunt or casting can.
In a group setting, over a long haul, having a warrior that needs more healing is preferable to a monk without the ability to reliably hold and snap aggro. Not only is it less efficient (exp/hour), but it is also a lot more stressful on a grinding group if mobs are bouncing around.
If you get multiple mobs without CC the monk has basically no chance to hold aggro on them all.
Also remember that the balance you're speaking of is largely gear driven for a monk. A monk in era appropriate gear (from live) wasn't going to out tank a warrior even in an exp grp. Every monk on the server didn't have a t-staff, fungi, epic, full suit of black panther at lvl 1, hp rings, etc.
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