I thought it was meant to be beneficial for plant growth
Benefiting plant growth at the expense of the fish makes no sense to me. This light siesta approach does harm fish. Plants are better able to adjust to a non-24 hour light schedule, but not fish. The circadian rhythm governs their day/night cycle.
As for the "benefit" so-called to plants...the idea behind the siesta approach is to provide a mid-day period of no "daylight" so the plants stop assimilating CO2 and it can rebuild. In a balanced healthy aquarium, the source of CO2 is primarily from the breakdown of organics in the substrate, plus the respiration of fish, invertebrates, plants and some bacteria. Both of these occur 24/7. During daylight (the period of brightest lighting which is sufficient to drive photosynthesis) the plants assimilate CO2, and this is usually faster (depending upon the plant species and numbers) that the CO2 can be replenished. So someone came up with the idea that turning off the tank "daylight" for a couple hours will allow the CO2 to rebuild. This happens at night obviously; this is why the pH will lower during the night, the increase in CO2 creates carbonic acid which lowers the pH. And this is a prime factor in the light/nutrient balance to control algae, and feed the plants.