In my experience, the best case scenario for students (or anyone) who do these elaborate planning rituals is that it serves as a catharsis that moves their anxieties from their brain to some paper. Relieved, they loosen up and get back to making progress while forgetting about their detailed 5-year plan The worst case is when this ritual produces a rigid set of unrealistic goals that the person almost immediately fai…
The real gains at that point are in connections, reputation, and getting into the habit of physical exercise.