Why? If you want to determine your own asset allocation based on your risk profile, why would you turn over part of that control to a target fund? If don't want to think about it, why would you screw up the asset allocation that's the target fund determines is appropriate for you?
I agree. And the whole debate about target date funds is mostly pointless unless you are talking about a fund with a date within about 10 years of now.
The Vanguard 2060 fund is 90% stocks, 10% bonds. Dropping all the way back to the 2020 fund the allocation only changes to 65% stocks, 35% bonds. Even the 2025 fund is 72% stocks. So I don't really think you are getting much benefit from the allocation choices made by these funds. I'm not saying there is anything wrong with their choices. I just mean that the choices are not exactly rocket science and they don't change very fast. You could just as easily look at their composition and duplicate it manually. You'd probably only have to make a change every decade or do.
But, one thing you should be aware of with the target date funds is that they have fairly high allocation to international stocks. If you hold them in an IRA or 401k plan you will lose the tax credit for the foreign taxes you'll end up paying on those international holdings. You could be throwing away as much as 1% in overall return and that can make a huge difference.