Nothing is wrong with that fund (in fact the target funds are always my recommendations to friends when they are starting out), but there is a space filled by the robo-advisors between target fund buckets and more of a sliding scale of risk. Although, at that point if someone is picking more precise allocations through a risk proxy then they might as well skip the robo-advisors and do the work themselves.

Idea: as you get closer and closer to the target retirement year, start investing in the newest target retirement fund that year. For example, if you are investing in TR2060 now, start contributing to TR2070 in 2025 instead of sticking with TR2060. That way you can "choose" between multiple TR funds with varying levels of risk each year.