Speak for yourself. My family is busy, and we don't like to plan -- we just decide to do something and do it. So a scheduled routine would feel like a horrible anchor to us.
While I'm definitely not going to say that it would benefit everyone, I think it's almost everyone while the relevant kid is in college. It's a lot easier to plan for a slot in your calendar as "Dad time" than to constantly reevaluate whether Dad is more important than XYZ random thing you have on the docket.