That's a really good question!
While many uses of timestamps only need quite loose precision, in some cases better precision helps. That's why I created the https://github.com/opentimestamps/restamp project to re-timestamp Bitcoin blocks with high accuracy trusted timestamps – the Guatemalan election was being timestamped and having as good precision and accuracy as possible was useful. (My client even paid to timestamp every block during the election itself)
Of course, it's a trade-off between cost and precision. So right now I'm seeing if the community is willing to step up and pay for that precision. So far people have been willing, so I'm hopeful I can keep it at the ~5 hour level.