I think it comes down to what is the purpose of that telescope. Since we are unable to carry around and look through telescopes in game at will, that object has a specific design and intended purpose. If the intended design is information gathering for the PC, it would be important for the PC to be able to access the telescope at any point in time barring a definitive end to whatever event is taking place. Now if the dragon is there after you confront the Githyanki patrol (the dragon rider ALWAYS flies away), I can see that being an issue. I have tried very hard to put out the fire at the inn, but there are specific points where flames just continuously spawn. I think it may be important to keep in mind that when you look through the telescope, you are actually looking at cinematics and not the actual world from your point of view.
So in the event you use the telescope and spot something you "identify that this exists" and you're suggesting that what you spot should disappear after a few days, if not sooner. In that case, I would be able to fly my raven familiar around the entire map, spot it all, and then progress events forward in an untimely manner; thereby removing vast story potential. The amount of "per day" facilities that would have to be incorporated to create a seamless and timely manner of storytelling to that level of immersion would have us receiving the game in 2100. The endless possibilities of interactions in the open world that can be drawn by the mind at any one point in time using the "I see it, it exists" method would require more resources than what are currently available; at this point I'd say sure, maybe tweak it a LITTLE bit, but you'll have to draw the line somewhere and identify the sole purpose of some objects in game.
