I worked somewhere that did that and it was great. Everyone knew when the release was. If your code didn't make it into this one, well, no worries, it can go out in two weeks' time. And if something broke we had all day / all week to fix it.
sounds awful for feature velocity
Not all industries care about that, versus having fewer outages.
Some folks just cannot be satisfied with a warning and have to stick the fork in the outlet for themselves.