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> a chance for you (the managed) to express yourself

As it is I'll walk into my manager's office whenever I feel like it and literally tell him he's "being a shithead" about something. Don't see the point of him wasting a half hour of my time a week.

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That's you. But for many people, that style of interaction just doesn't mesh with their personality. Some people are more meek, and won't tell you about an issue until you ask them straight out "what's up?" in a setting where they know that's their time to speak up. If you don't have a scheduled recurring 1:1 with those people, they won't schedule a time to meet with you. Until they schedule a "here's my 2 weeks notice" meeting with you.

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