It actually uses the most precise 32 bits of the date, so it's any, like, nanosecond between 0 and some other small amount of seconds. You can't brute force a wallet by knowing approximately when it was made, but you can brute force every mnemonic if you have the time or a bit of cash to throw at a server.

EDIT: It loops around to 0 every 4.something seconds, so it's not like everything after 4 is the same key. It's just a more random distribution than what you may be thinking.