On the other hand, could it be a matter of scope? One thing you have to hand to Larian, they do like to go big when it comes to what their systems can do. Maybe they looked at all the stuff they would have had to do to make the cycle feel 'worth it', i.e; npc schedules, dialogue, background chatter, items that interact with it, an internal clock connected to spell duration, etc, and decided it wouldn't be worth the increased scope.
How so, when other cRPG developers with MUCH less resources than Larian have done it?