Everybody is in a different timezone and has different hardware clock settings. The livecd should take this into account and not make assumptions so that timestamps are correct during installation. Reproducible: Always Steps to Reproduce: 1. Use a Live CD. Actual Results: It assumes hardware clock is UTC and timezone is UTC. Expected Results: It should prompt like it does for keymaps.
The time on the installation CD itself is really irrelevant. There's nothing stopping you from selecting your own timezone by creating the symlink yourself. Assuming UTC is a standard Unix-ism, not to mention the CD doesn't write the time to the hardware clock, so it does not affect the current time settings on the system. The Installer will have an interface for selecting your timezone during the install, and the Handbook already documents how to change the time.