Pros and cons.
Many decades ago I worked in a large computer room with everything from PC sized servers to giant mainframes. The room was the size of a football field with many hundreds of systems.
We used to have very random system failures and hangs. Then we implemented a large-scale UPS system. This system used electricity to charge batteries. Then those batteries ran an inverter to create power for the building. In this system we were always using clean power. If the electric company all of a sudden shut down, we were still running until our batteries were depleted. (This is not unlike how a vehicles power system works - you are using battery power all the time and the alternator charges the battery). Your UPS probably works the same way, always supplying power even if you pull the plug. Some cheap UPSs use a relay and don't supply power until the main service disappears, then they switch to the batty and inverter. This type of system causes spikes in the output and thankfully are not that common.
What we found was that many or most of our unexplained reboots and failures stopped. It was a dramatic change.
Electronic devices and software can develop issues where they need to be rebooted. Certainly Windows operating systems fell into that category.
With electronics, there is often a power button which allows a proper shutdown. Oftentimes it does not just cut the power, but rather starts a graceful procedure to store current configurations, stop processes and power down. Of course, not all equip met does that.
My feeling is that by forcing power shutdowns just because you can, is not the best idea. Electronic chips don't like stress and continued stress can cause more chance of failures.
If your equipment was meant to be recycled and cold booted, the manufacturer would have put software or hardware times inside.
Just because you CAN reboot nightly does not mean you should.