I heard a good argument that caused me to suppress this instinct. When you argue against a compliment, you are forcing additional emotional labor onto the person paying it to you. Either they have to double down and say, "No, I really mean it" until you finally stop protesting, or they have to just awkwardly disengage from the conversation by not pressing the matter, making them regret the effort in the first place.

Quit being dramatic and just say thank you, for god's sake.