Oh, yeah; people use to tell me my saddle is too low. But my bike is a 1979 Japanese sport/touring bike, and the horizontal top tube tends to look odd when compared to modern sloped ones. In fact, my setup is very similar to the ones I see in old catalogs like this:
Touring & sport bikes from the 1982 Bridgestone catalog. The stem & seat tube setup are similar to mine.
Another reason for my setup is the fact that I have long legs but a shorter torso. Most older frames have the top tube in the same length as the seat tube. But for me, the ideal frame should have a top tube that's SHORTER than the seat one, something that's not easy to find. When using a smaller frame, I feel the handlebar too low for me. That's why I chose a somewhat larger frame with a shorter stem length. If I find a taller stem I might switch to a smaller frame.