Throughout its relatively short lifetime, ultra-high vacuum (UHV) surface chemistry has progressed quickly. In the 1960′s, pioneers like Ertl and Somorjai started the field using single crystals and gained significant insight into catalytic processes by relating surface structure to reactivity. The more recent proliferation of scanning probes has significantly increased the power of the single crystal approach by enabling the atomic-scale structure of active sites to be correlated with their reactivity. In this perspective we briefly discuss how the field developed, identify some challenges, and highlight Single-Atom Alloys (SAAs), a new class of heterogeneous catalyst that was developed from a fundamental surface science approach. However, despite recent successes, funding for fundamental surface science has declined. Academic hires in the discipline are also declining in part due to the start-up costs. We make the case that fundamental UHV surface chemistry is still too young a field to be in recession.