While bold text is often used for emphasis and setting it to "regular" doesn't change the meaning much, using a monospace font signals specific things (often, it's used to represent code snippets, but in some contexts it can mean "work in progress"). Changing that font to a proportional one strips a lot of meaning and readability from the text.
In that regard, fonts families are an essential part of the document, and not just their stylistic/emphasis variants (e.g. size and weight, which can still convey important meaning on their own. Think titles and headings.)