Activity Retries up to Max Attempts(3), but workflow logs show 60 Activity Timeouts

One of our child workflow has an activity with retry policy set as

ActivityOptions {
            setStartToCloseTimeout(Duration.ofSeconds(6))
            setRetryOptions {
                setInitialInterval(Duration.ofSeconds(1))
                setMaximumInterval(Duration.ofSeconds(2))
                setBackoffCoefficient(2.0)
                setMaximumAttempts(3)
            }
        }

Temporal Frontend history shows activity retried - 3 attempts and failed, but our logs & traces (opentracing)show 60 spans of workflow failed

Workflow execution failure WorkflowId=xxx, RunId=yyy, WorkflowType=SomeWorkflow - message, column 4, row 60

with exception

io.temporal.failure.ActivityFailure: scheduledEventId=11, startedEventId=18, activityType='GetSomething', activityId='abc', 
identity='', retryState=RETRY_STATE_MAXIMUM_ATTEMPTS_REACHED
	at java.base/java.lang.Thread.getStackTrace(Thread.java:1602)

should not we just see 3 entries/spans instead of 60?