My experience couldn't be further from yours. I like having to test my depth and minor leagues, so I usually up the injury slider a point or two. I would get a player injured pretty regularly, sometimes the announcers would say it was relatively minor, but other times they said something like "this doesn't look good, he could miss significant time" or something like that. I've found myself lowering it back down to default and I've been seeing far less.
On a side note, my one gripe with injuries, from my experience, is that 98% of the injuries my team has experienced has been position players. Very rarely does a pitcher of mine get injured.