I think something needs to be done, at least.
Personally, I would prefer the server midnight to be changed by one hour (or two hours) once every month. I also think the option of having updates happen every 23 hours or 25 hours is fine.
I hope everyone realizes that there is a considerable advantage to living in a timezone where one is able to be around at server midnight, though, and a similar disadvantage for those who are not. There are many strategies which only works if one is around at server midnight. And there are things which is harder to defend against if one is not around at server midnight. Changing the time of server midnight on a regular basis will ensure that everyone gets an equal share of the advantages and disadvantages. Today, it's the same people who always gets the advantages, and the same people who always gets the disadvantages.