TL;DR The more you review, the better. But ain’t nobody got time for that. Therefore, SRS.
The point of SRS is to achieve long term memory with the least amount of reviews possible. Therefore SRS is a system that optimizes time efficiency, not memorization.
Think of it this way. If you review a word each hour of every day for a whole week that would make 168 repetitions. Compare that to the 5 repetitions that WK gives you, again for a week. Which of those is more likely to burn the word into your memory? Are you likely to suddenly start forgetting the word after the 5th day of mind-numbing repetition?
The larger number of repetitions is definitely better, but waaay more inefficient time-wise. You’re likely to do just fine with the 5 repetitions, so long as each one is done before you completely forget said word. That’s what WK tries to achieve. It tries to push the limit of how far you can go before needing to do a review. With each successive review that interval becomes longer, that is to say, with each review it takes longer and longer for you to forget that word.
But there is a problem with the fixed intervals that WK uses (4h, 8h, 24h, 48h, etc.), and it’s that some people have a stronger memory, while other people have a weaker memory. Maybe, for you, waiting 6h instead of 4h to do your first review would work just fine. You’d do just as well if you pushed your first review further out, and you’d save some time in the long run. But maybe I have a weaker memory and need to do my first review within 2h, or else I’d forget all I had learned, and would need to start over for the most part, which would be a big time waster. Each person requires specifically tailored intervals.
Having an “Extra Study” feature solves that problem for WK. Now it no longer has to fit a rigid time interval system onto everyone, but can instead let people decide if they need extra time with some batch of lessons. If you ace a given review session (you 100% it), it likely means you can go further without doing reviews and save on some time. Likewise, if you’re getting a subpar score, let’s say bellow 80% success rate, then you likely need to do reviews more often. How well you do also depends on how tired, stressed, hungry, distracted, etc. you are, for which no amount of calculations can account. If you feel like you need a refresher, then go for it. We’re here to learn a language - the more exposure you get, the better you’ll become.