The draw distance in game is pretty bad as it is and having spyglass sensibility won't help at all, you probably will still have things not showing at certain distances like objects on islands and players on ships etc...
RamboBrad
Legend
Insider
On mouse and keyboard it's pretty much unusable on rougher seas unless I use my dpi switch button.
HiradC
Lord
Insider
My spyglass is pretty sensible, it tells me sink that ship, and that one, yep them too, they're faking being friendly.
Jokes aside I don't think I've ever had issue with it, but then being on controller I'm used to a slower aim speed etc.