You are right at many levels. There are still many reasons why I would not like to work in a place that does just that - it's chaos. But some time should be spent that way, mandatory!
I actually have a boss that literally made a "skunkworks" weekly meeting that was 4 hours and meant "turn off phones, email, IM, work on cool things". It transformed into a full day (weekly) for a while, but we failed to keep it up. Fortunately this transformed into a full time, modern, project-only job for me.
We are lead to believe that "skunkworks" is done by R&D departments, but all I saw were failures in that regard. It was one of:
- R&D does cool things, keep them for themselves and maybe produce some procedures to pass further to Architecture. Random IT person has no benefit and no knowledge from that work.
- R&D doesn't do R&D, it does projects and development, they just have less compliance, which is destroying morale.
- There is a huge startup within the company, which has hundreds of "old" people transfered, new cool cloud tech, new offices, agile flow or whatever else they want to do. It never goes beyond that very group and dies as soon as the product goes into stable production (successfully). No lessons learned, we did things the old way.
- My Business colleagues in one of the biggest banks worldwide were doing full time "project" work, which meant they were designing and testing complex business system. Company had cool bonuses for "innovation". They did a lot of real innovation, proposed and implemented different ways to do business. Never got bonuses as "your team is a project team, so innovation was part of your daily tasks".
- Same company, but in IT - also awesome bonuses for innovation. This was THE topic, your yearly goals were all around it. Can we make tools? No! It's forbidden. Can we code? Forbidden! Can we script? Maybe, if it's not coding. But even if it is you are forbidden to install new tools anywhere. All script languages are forbidden.
I'm not a coder, but can't stand stagnation and obsolete tech. Did several tools which were plainly a workaround compliance. Implemented small custom DNS query engine in VBscript, as this was the only thing I could use on a workstation. In 2015 or so. Did file processing automation for production systems in perl. NOT OFFICIALLY, of course! Perl was forbidden, like everything. So I used Perl build into Oracle Client package - old Oracle with much older Perl inside. Hide and seek game, all day long.
Skunkworks should be mandatory :)