An altimeter is never 100% accurate because it relies on different parameters, including atmospheric pressure. According to the tests, the instinct 2 is relatively good in this respect. In any case, if you want optimum altitude accuracy, you should always look after your activity on a map. The line on the map will allow you to correct the altitudes according to the topographical survey.
If you want an accurate altitude 'live', you should look at watches with integrated maps (twice the price) but I'm not 100% sure that with the integrated map, the altimeter is based on the topo map and not on the altimeter... I dont' know...