That is way off.
A monk could do 3 unarmed strikes on top of their action at level 1.
At level 3 they can flurry and attack 6 times on top of their action. Which they could use for 3 more bonus action attacks.
At 6, they can flurry 6 times for 12 attacks.
At level 10 they can attack 18 times only using bonus actions.
Yes, their ki is running out fast. But 18 monk unarmed strikes, potentially against a prone foe (open hand technique) is about 150 damage on average...
Edit: the way 5e works, bonus actions are too wildly different in value to give them a comparable cost in move or standard action fractions.
Swapping an action for a bonus action that you did not already have used might be the only sane way to make it work well enough. And even then, a monk might gladly trade a single attack at level 1 to 4 for a flurry of blows (Assuming they used their other bonus action for something like ki enhanced step of the wind).