So here is the message that is the foundation of this discussion:
"The audit log is intended to record configuration changes that can impact users and projects."
So when you look at the table in the documentation right above where that is written, it describes that no events are recorded for Screen Changes (using as a specific example). To me, I believe that screen changes by an administrator could absolutely be classified as something that can impact users and projects, especially as you try to roll out shared configurations and enterprise configuration management. Changing what fields are or are not on a screen (especially if that screen has impact on something like regulatory compliance) can cause a company to unknowingly fall into non-compliance because a particular critical piece of information was unknowingly not being captured.
Curious to know thoughts on this from others if perhaps I'm placing too much emphasis on this, but I would love to know if a field gets removed from a screen, when it happened, and which admin made the change, so that I know how far back I need to go to correct tickets, and which administrator may need some reminding on tracking configuration management changes so people are informed before or near-real-time of the change, rather than happening to notice a field is no longer there on the screen.