Yeah, but we're thinking of systems where nanoseconds matter.
MiFID 2 alone forces sub-μs precision. Million times less than the leap 1 second.
NTP minute away is good for displaying date on the workstation, not for many of the devices that are critical to the modern world.
dont most systems that rely on sharp timing simply manage it themselves.
MiFID 2 does not require nanosecond accuracy. It's something like 100 microseconds in the strictest case.
Some MiFID reports require microsecond or perhaps nanosecond precision, but that's really just a formatting requirement "please write your timestamps with six figures after the decimal point."