`timestamptz` is probably poorly named. It doesn't actually store a timezone at all - all values are stored as UTC. The underlying storage is 8 bytes and otherwise identical for both timestamp types. However, using `timestamptz` allows you to more easily group by day, hour of day, etc. in a non-UTC timezone when that makes sense. Especially when dealing with summer time/daylight savings time, this can be quite useful.

As far as storing a datetime with an associated timezone, I agree that usually this can be problematic. However, for things like weekly repeats, you may want to store broken out components so it handles cleanly across time switch boundaries - e.g. when going in and out of DST. So you'd have `timezone`, `time` (no TZ, no date), repeat schedule (likely using interval, internally stored in months/days/microseconds), and use these to set up your next exact timestamptz value.