Well, a Katana is not a classic Thief or Bard weapon either, but I don't see people complaining. Both the Monk and the Katana have oriental origins, in real life. It seems far more fitting for a Monk to use it than a Bard or Thief.
The Asian origin isn't the point so much as the origin of monks. Anyway, it's all fantasy, anyway - I'm just stating my take on a fictional premise
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In terms of progression, they are a lot like Mages - have a hard time surviving in the beginning, become juggernauts of destruction at high levels.
I think Monks are fun in a powergaming kinda way. Far from my favorite class, though.