It makes little sense for the way most us sail or would like to.
The larger Swans have had dual "pits" -- one for the major winches and one farther back for the helm. If you have a professional crew of 15, it might make some sense. If you're trying to instruct someone while you're at the helm, it obviously leads to yelling a lot :^)
The large Little Harbors (70'+ or so LOA) had the only two cockpit arrangements that ever looked good to me. The center cockpit had the usual stuff -- but aft of the "Owners cabin", at the stern, was a nice sunken cockpit with a dodger to protect it. It was alike a private balcony where someone could read, or whatever, while the rest of the party (or sailing) was going on. Of course, such luxury came with a price that only dreams are made of -- but then a lot of life is that way.