That's a very insightful question!
If you execute the time command without specifying another command to time, like just typing time and pressing Enter, it won't actually do anything productive in terms of timing other commands. You'll typically find that your shell (like Bash or Zsh) will simply treat time as a regular command that expects arguments. Since no arguments are provided, it usually just returns and prints the prompt again without any timing information.
This is because the time command is designed to prefix another command to measure its execution. It needs something to "time."
If your intention was to measure the time taken to simply type time and get the prompt back (which is extremely fast), it's not designed for that. It specifically measures the execution of a subsequent command.
Try it yourself in the terminal, just type time and press Enter. You'll see it doesn't give you the timing output like time cat test_file.txt did.
Does that make sense? Let me know if you have any other questions!