If you're paying API rates, you can choose 5m or 1hr yourself (and pay different rates).
Keeping a 1hr cache warm could still be useful, sure, but outside that, I don't see much use of this today.
*UPD:* actually it appears the default is authentication-dependent. API key gets 5 minutes, subscriptions - 1 hour.
Cache duration is arbitrary. What it actually does (if used en masse) is decrease the amount of oversubscription their infra can handle..
Lately, I’ve been thinking about how this related to fractional banking. If you were to eliminate fractional banking introduced in the US by Hamilton, you would destroy a lot of current prosperity.
For example, there might be something I intended to complete in one sitting, but took two sittings in the same day unexpectedly. Maybe it could just be a few cache delays per day or something, tagged in advance somehow.