1-1s have been the basis of most human relationships for millions of years.
But the manager isn't the person who can easily make that judgement call. IMO, the correct person to judge that is the direct -- they can't just show up at their managers desk and demand a 30 minute meeting when something important shows up, whereas a manager can (and often does!)
Generally ideas like this seem to spread because it was part of some successful company and so it got written up and now a lot of people copy it because it's easy to copy and they think it will help make their own company successful.
As a result, the thing that actually occurs in a lot of places is a manager reading from a script that they've been trained on a little bit from someone else.
It does not feel useful to me.
Also, I think all managers should be asking what cadence and length of time their directs want for 1:1.
The least would be 30 minutes bi-weekly IMO.
The most would be 1 hour weekly.
Depends on the person, the projects, where they are in their career, etc.
I have 20 years of experience in this field, and a vital part of the job is communicating well with other people. I do not need someone's "Management Best Practices Checklist" in order to do that. And I do not think I'm exceptional: most of us got by just fine without all this.