I've just heard that the school DC went to years ago has stopped doing this after 60+ years. We didn't think anything of it at the time, just what the school did. Never caused any problems, and it was part of the school's history of how it was formed.
Apparently the school have decided that it puts parents off choosing the school. It has an excellent reputation locally.
What do you think? Would it put you off? I think it's a bit of a shame to change the history of the school personally. But hey-ho.