If you have (young) kids, it's non existent either way.
Now I go to sleep at the same time my kids do, around 9PM. My social life is during noon. My lunch-time is 2.5 hours instead of the usual 40min. During that time I go to the gym, have lunch with my wife, do some shopping, go to the barber,...
I can recommend it. More sunlight, more movement, no evening binging, no hanging in the couch, no useless late-night phone scrolling, no tired mornings, better quality time with the family...
Because I go out regularly and does not have any problems with parking (uber / public trans. / choosing places with plenty of parking generalny solves this headache) , the people (you know that you can choose who you meet), prices (free meetups rules) and mediocre drinks (not drinking is an option ,but if somehow not, craft beers seems to work)
Then I found there actually were things I wanted to do on weekdays. These tend to happen later in the evening, like 8-9 PM. Think taking up some sport / dance / other kind of class. Clubs usually meet in the evenings, too.
In my neck of the woods, people usually start work around 9:30 and get off around 6:30 - 7. You basically need one hour to get around town, so you can't reasonably hold an event earlier than 8 and expect any amount of people to show up.
The current system is not built for free time, it is built for work time and if you're lucky you can shove some quality time with your kids between your employer and your sleep but that's optional.
If we didn't work so much, used all the producittvity gains to actually work less as was promised, this wouldn't even be a discussion, but alas.
Another question, at some point in your life - do you even want an evening social life?
the calculus now is: "is this thing that ends super late worth being tired as shit the next day? i'm going to wake up at 0500 regardless."
a date night with my wife or close friends that goes deep into the night? sure!
a random night where folks just want to drink? unlikely, unless i _really_ want to hang with those people. (this means i dip early for work events now. this is okay, since most of the people i work with have kids and need to bail earlier to take care of them.)
that said, i "can" be more selective now because i spent many years doing the latter. i know how it goes, and i've drank enough to know that i'm not missing anything.
i used to be a super hardcore night owl (0200-0900). transforming into an early bird was very hard but extremely worth it. between this and giving up caffeine, my productivity shot up through the roof and my mood in the morning is much more stable.
also, waking up early is a great way to make friends with others that wake up early!
I'm much more excited about able to be able to go fishing at 4am in the summer, NOW we're talking ;-)