Is the 3 Transactions/Second argument for Scaling legitimate?

Is the 3 Transactions/Second argument for Scaling legitimate? You continually hear people talk about Bitcoin's 3 tx/sec limit as a reason for block-size scaling solutions.... But is is true? I see where the figure comes from: Roughly 200k~ Transactions in a Day divided by 24 divided by 60 divided by 60 = 3~ But i... Bitloverr