I can not seem to find this if it is in build 8797, but if not I would like to propose it.

In each calendar for each user you can set the start and stop times for a calendar.  I think there should be a way to set the calendar hours at the domain level, and then propagate them out to all of the users.  

Does this exist and I just cant see it ?

A domain often being a business or an org, we would assume most of the hours for meetings, scheduling, and availability would be the same company wide. Each user should be able to override and set their own calendar, but it would make company management a lot easier.  For Instance we have an auto repair shop that has operating hours from 7 am till 7 pm, and staff rotates at different times during the day.  But mechanics, estimations, painting and other activities span the full 12 hours for dozens of people.   

Likewise we work with several homeless shelters and they are 24/7 operations. scheduling things like , move ins, computer use, laundry, meetings, etc, can be done at any time for most of the staffing, especially when they are rotating shifts during holidays.

Setting each persons individual calendar for dozens of people is rather cumbersome.