My experience has been entirely at companies that have a continuous delivery software paradigm.

That means I'm intuitively aware of its pros and cons.

But the twice-yearly release cadence has a few benefits.

It forces a big-rig style of execution: high momentum, minimal pivots.

It makes it easier to have a coordinated sales moment, a discontinuous excuse for sales to reengage with customers.

It also makes internal coordination significantly easier; everyone coordinates to the date and works backwards instead of needing to coordinate pairwise with other teams.

Another benefit: there's a clear time to stop and do bug-bashes to improve quality in the run-up to release... work that is easy to punt endlessly in a continuous delivery paradigm.

This style of execution is also significantly easier to coordinate with partners on.

In general, the cost of coordination with an entity inside your org is at least an order of magnitude cheaper than the cost of coordinating with an entity outside your org.