This is the current biggest mistake in the industry, imo.
The schedule may still slip, since estimating time is very difficult, but at least some of the time it will be correct (or estimates will get padded until things happen on time). Either way, it's more useful than giving up on the problem.
Instead teams should focus on delivering value incrementally, then using metrics over those increments as a measure for future increments.
"How many points did you spend on that story last week?" is not something anyone is going to accurately answer (and it doesn't mean anything, anyway).
Time based software development estimates before the magical "story points" system was in vogue.
