Aussie here, got my first taste of this feature last night when I received a notification saying rain was expected at my location at 00:22. Had no idea this even existed previously so it was a nice surprise. The rain arrived approximately five minutes later than scheduled, but was still very impressed.
If anything, I think they need to tone it down a notch. For example, this evening I received a notification saying the rain would stop at 19:23 and continue 14 minutes later. That level of accuracy would be incredible (imagine knowing whether you were wasting your time taking shelter before making a break for it), but the reality is often very different.