It does nothing but get baby more alert taking a bath or read books. I never read bedtime stories or bathes.
Dim the light, give a bottle, change diaper and go to bed immediately.
When my daughter was a small infant, we sent her to bed quite late. Sometimes at 9pm, even 11pm as newborn.
She slept a lot all day around the clock so it didn't matter. Infants have steady growth spurs anyway.
Now she's above two, all the routine established, it's bedtime at 8pm every night.