Bannon is an anger salesmen. Anger salesmen don't sell you somene else's anger, though -- they can't. Instead, they package up your own anger, and sell it back to you.
Bannon sees the the reaction people are habing to CEOs right now, slapping a big ol' bow on it, and selling it back to people.
The timer also discourages kinds of interactions or engagement with other players that may actually be welcomed, entertaining, and appreciated. It also takes a significant amount of the responsibility of being a referee off the GM's shoulders - you know, that thing that they're actually charged with doing - and turns it over to a clock that they can just use as a cudgle.
It's the classic toxic nerd shit of turning something that should be a social encounter into a souless mechanical system.