There is a prominent master reefer in the UK, I believe it's David Saxby of DD, who uses a very unique up down up down intensity schedule on his lighting. I believe it also moves across the tank (has a huge tank with many fixtures, he doesn't actually move the lights). I think he said there were significant benefits after implementing it. I think he believes it allows the coral to utilize photosynthesis longer overall by taking breaks periodically. So more light overall then before but with breaks basically.
Again, I think I think I believe I think. Google him or his aquarium to learn more, and just to see an EPIC tank. Mike paletta also talks about it in some video I saw.
On a side note, the nicest tank I've ever seen in person had complete lights out for 2 days once a month. He said it helped control algae/dino/diatom/cyano and the corals always looked amazing right after. The same schedule 24/7/365 is not natural obviously, but the question is, is natural actually best? Not always.