The idea that a person should be ruled by the clock is amusing. In these countries, it's fine if a person is on time. But it's also fine if a person is late. After all, life is complex, and many things happen. In contrast, time is money in the United States and most of Northern Europe.
Minutes are a precious resource.
There are never enough of them. When someone is late, they have wasted your time, which is a serious insult. It is impossible to say which way of looking at time is correct. We generally prefer the prevailing attitude of our native culture. Absolute punctuality is expected in Germany, the Netherlands, Finland, and Japan.