Unless you're very lucky, it's going to be showing the wrong time. I don't think I ever had a power outage precisely on 00:00. Blinking is actually a nice reminder that you should not look at that clock to check the time. In any case: yeah, you have a single source of time info disabled, but there's a wall clock above the tv, so really, why bother setting the time right?

Unless you want to record that show that plays at a time when you have to be out. That's when you call out to the kids to do whatever it takes (setting the clock is one of the things to do, but why bother with the details).