It is. It's also the default time for Linux and BSD.
Example. Whenever my cable modem re-boots or there is an error it always has the date :
Jan 01 1970 00:00:34 3-Critical R02.0
The ROM uses Linux under the GPL.
I'd be willing to bet whenever Arn looks at his logs he will see that date during a full restart.
Ask Blakespot. I'm sure he knows.
[edit] The definitive answer [/edit]
https://en.wikipedia.org/wiki/1970
January 1 – Unix time begins at 00:00:00 UTC.
Unix time (a.k.a. POSIX time or Epoch time) is a system for describing instants in time, defined as the number of seconds that have elapsed since 00:00:00 Coordinated Universal Time (UTC), Thursday, 1 January 1970,[1][note 1] not counting leap seconds.[1][2][note 2] It is used widely in Unix-like and many other operating systems and file formats. Due to its handling of leap seconds, it is neither a linear representation of time nor a true representation of UTC.[note 3] Unix time may be checked on most Unix systems by typing date +%s on the command line.
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