Welcome to the forums,
Back when screen resolutions were smaller I'd say the day view doesn't need the extra times for tiny appointments just to save space and show more subject. (It does show time in print view - for which we now use the html client to render instead of a separate ajax one.) And that it's in the week view for tiny appointments so you don't have to look left and follow a line over when somethings later in the week thurs, fri, etc.
Thus I'd want time added to small appointments in schedule view since it's again comparing multiple calendars/columns.
Feel free to create an account in bugzilla and
file an RFE to add time to small meetings in schedule/day views. (Thus you can track it's progress on being fixed/implemented.)