PhotonNetwork.Time is jittery...

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I was under the impression that PhotonNetwork.Time was as reliable an update time as Time.time. I have several driven animation curves that need a time input, and thinking that it would be really great to factor ping out of the equation so that all players see the exact same thing at the exact same time, I have the animation curves (pseudocode):

curve.Evaluate(PhotonNetwork.Time);

again, rough pseudo code but you get the picture

The result is horrific. Jittery, unusable. Why? Again, I thought that PhotonNetwork.Time was synced once, and then calculated locally and adjusted only very minutely to make sure your representation of it doesn't stray. Am I missing something, or is it really only to be used to periodically get timeStamps?