While it can be overwhelming at times, I think school during term-time sets a good tempo for life overall.
By contrast, working in a job that can be expected to continue indefinitely lacks contrast and rhythm; it risks becoming a dispiriting grind.
Totally unstructured time, on the other hand, is rarely as good for advancing long-term projects as a person might hope. It’s the inflexible dedicated blocks in a schedule that lend structure to everything that happens around them. With few or no time-specific commitments, one’s schedule has a tendency to get flabby, low priority activities can end up occupying an unjustified amount of attention, and sustained forward motion on important projects can be hard to sustain.