I guess to some extent, I think it is. One would assume the various agencies and contractors that build and run these sensor systems are constantly trying to improve them. As such, the resolution improves and the UAP just move out beyond the new resolution.
With more data and better sensors, we can identify more things, like balloons. Having identified a balloon or bird or whatever prosaic thing it was, there is little reason to study it. How much studying needs to be done on a balloon? So, there's no real point in studying that which has been identified, but we can't study that which has not been identified. It's by definition "unidentified". To study, it must first be identified, which leaves us with things not worth studying, (assuming what has been identified is something like a balloon. An adversarial fighter plane or drone would obviously be studied). It all seems a bit circular.
People can study unidentified stuff in an effort to increase the resolution of a particular sensor, to in effect, identify the unidentified, but I'm sure they're doing that already. And when that is done successfully, the UAP move out to the next level of unidentified.