For a reliable design of wind turbine systems all of their components have to be designed to withstand the loads appearing in the turbine's lifetime. When performed in an integral manner this is called systems engineering, and is exceptionally important for components that have an impact on the entire wind turbine system, such as the rotor blade. Bondlines are crucial subcomponents of rotor blades, but they are not much recognized in the wind energy research community. However, a bondline failure can lead to the loss of a rotor blade, and potentially of the entire turbine, and is extraordinarily relevant to be treated with strong emphasis when designing a wind turbine. Modern wind turbine rotor blades with lengths of 80 m and more offer a degree of flexibility that has never been seen in wind energy technology before. Large deflections result in high strains in the adhesive connections, especially at the trailing edge. The latest edition of the DNV GL guideline from end of 2015 demands a three-dimensional stress analysis of bondlines, whereas before an isolated shear stress proof was sufficient. In order to quantify the lack of safety from older certification guidelines this paper studies the influence of multi-axial stress states on the ultimate and fatigue load resistance of trailing edge adhesive bonds. For this purpose, detailed finite element simulations of the IWES IWT-7.5-164 reference wind turbine blades are performed. Different yield criteria are evaluated for the prediction of failure and lifetime. The results show that the multi-axial stress state is governed by span-wise normal stresses. Those are evidently not captured in isolated shear stress proofs, yielding non-conservative estimates of lifetime and ultimate load resistance. This finding highlights the importance to include a three-dimensional stress state in the failure analysis of adhesive bonds in modern wind turbine rotor blades, and the necessity to perform a three-dimensional characterization of adhesive materials.