I think the division of time is a natural thing that historians do. They talk about Reformation Europe as opposed to Medieval Europe.
I think there are some clear Religious History divisions that present themselves.
Pre-history is one. Creation week is another. Eden is another. Ante-diluvian is another. Abrahamic Covenant is another. Christian era. World to come 1=millennium and World to Come 2: New heavens and earth.
A review of a biblical history would probably break its instruction into distinct eras.....economies.
The difference, of course, is that dispensationalists believe their division is divinely inspired, and provides a valuable, indeed, necessary way for organizing one’s theology. Further, if you disagree with their understanding of the divinely inspired division, you will completely miss the mark of basic Bible interpretation. IOW, it provides a hermeneutical framework that is essential for reading present-day prophecy tea leaves.