One day the market itself will reach this conclusion, that one auction-trade a day is all it's needed.
An analogy would be operating Hacker News by publishing all the opinions once a day like a print newspaper. The back and forth arguments would take weeks... you post, some responds the next day, you respond the third day. Not good.
Is it really not good?.. Now just thinking about what you said reminded me good old FidoNET days. You’d get mail once a day (typically), read/respond and that’s it, done for the day, on to do some work. Procrastination problem solved :)
If the auction is sealed bid, then price discovery is terrible.