I just don't see the negatives of doing routine blood and biochemistry panels. Especially remembering that dogs don't tell you if they are experiencing symptoms until those symptoms are pronounced.
You're absolutely right, if you/your dog has a known increased risk of disease, or is in a higher-risk population due to e.g. age, diet or environment, then this means they have an increased pre-assessment risk in comparison to dogs/people without known risks (bearing in mind this is all applied at the population level rather than at the level of the individual).
But people generally assume the tests are 100% reliable, when they're not. So every time you test for anything, there is a chance that the test comes up with an inaccurate result - which can lead to more testing, invasive procedures, worry, distress etc. When something is discovered, the impetus is then to 'do something about it' whereas you don't know how it may or may not have progressed if it hadn't been found. Clearly if you're looking for markers of specific conditions or things like dietary deficiencies, then this is a different beast in that I guess you know your threshold for action, or whether you use it to alert you to other, clearer indicators.
It's very difficult when applying this to dogs because as you say, they're generally very good at masking symptoms and hiding discomfort, and we're entirely responsible for their health and well-being. But the basic principle - that tests are not always right, and the more repeat tests you do the more likely you'll get errors - is quite often overlooked in animal (and human) health. and that's before you get to how good the people and the equipment are - it seems that the quality and consistency of biochemical analysers used in veterinary medicine varies a lot (I'll try to attach the pdf if this doesn't work):
Rishniw M, Pion PD, Maher T. The quality of veterinary in‐clinic and reference laboratory biochemical testing. Veterinary clinical pathology. 2012 Mar;41(1):92-109.
Jumping off my soapbox now, sorry to bang on...