In Rune Factory ToD, is there any point to the Cherry Blossom Festival?

Is there any point to the Cherry Blossom Festival? I feel like I'm only walking around and talking to people, is there something else that I should be doing?

According to an IGN walkthrough,

You basically have six hours to complete the Cherry Blossom Festival Mini-Game if you speak to James immediately at noon. He will direct you to Odette, who will be found in her Kitchen. You can teleport back to your home to save time.

Odette will tell you that she cannot complete the Festival feast because she is missing three Ingredients. She then will list the Ingredients and ask that you obtain them from specific Villagers. The Ingredients are loaded randomly but the Villagers appear to be the same, at least in the first Year. The Villagers who hold the Ingredients are: Electra, Bismark and James. Each Item is specific to a Character and when you speak to the Character in question, he/she will pretend to have forgotten what is required. You must choose the correct Item from a list of three in each case.

James is easy to find. He will be at his Stall at the Plaza Pavilion throughout the afternoon. Electra should be near the Mansion. It is Bismark who presented a problem for me. Although the Map showed him to be near the Gemini General Store, I could not find him until 4.30 p.m., when he appeared outside the Shop. In any case, that was soon enough to complete the task.

When you return to Odette, you physically must give her all three Items in order to complete the Mini-Game. She then will make you a Cooked Dish using those Ingredients and give it to her. You can eat it, stash it or sell it. That is the extent of the Cherry Blossom Festival in the first Spring.