I agree with that, depending on how you define "server health".
Server health is a rather subjective thing that incorporates, in my mind, things like the following: how nice is the community? Are new players tolerated and trained? Do people steal quest objectives? Do people participate in RP? Are there active warzones? Do people PUG for flashpoints? What's going on with the auction house?
I can't speak to any of those very important measures of server health.
I believe the point of the thread was transfers for APAC servers based on a percieved lack of logins?
I'm merely giving you an idea of approximately how many other bodies are there on the server with you. I do not claim to have any insight on anything other than number of logins.
I'll restate my comment. It is not indictive of the amount of players online, as certain things can contribute to having to relog on to a server. Such as, and not limited to, server dropouts, going afk for long periods of time and the like.