I agree with the OP* 100%, but sadly this is also the single flaw of the game I have the least amount of confidence Larian will ever address, especially because they've been rather explicit from the beginning (and adamant I would say) that they consider a day/night cycle a waste of resources and something too complex to do properly.
Which is a bit embarrassing, when you realize the size and scope of this production and the fact that in most other games with a fraction of this budget it was the standard for 20 years.
It's also funny as an excuse, because frankly even "doing it half assed" would still be leagues better than not doing it at all because "too difficult".
P.S. I'll say it outright: if I were offered the option to delay the final release by six months only to include a decent day/night cycle and resting system, I'd take it without a second of hesitation.
*except for the complains against rest abuse: I simply never rest more than absolutely necessary in most of these games, it doesn't even matter if I can or not, I don't like abusing it.