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"Even a broken clock is right twice a day. " Is it really right?

So I posted this quote as my google statues and my friend had an Idea:
"Unless you don't have a reliable standard to compare that clock with, it is useless to consider this fact that the clock might be right 2 times. Clock is a measurement instrument with which you measure something else, so if you wan't to verify it you need another clock which works 100% correct"
What do you think? Shouldn't we consider that maybe others can be right sometimes? How can we define this "standard" that my friend mentioned?

Topics: philosophy
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    Jul 5 2013: Actually I just had a second understating of this metaphor:
    Sometimes it means that the person who lives in this mind set, is trying a stopped or broken system (another human being, a company, etc.,) over and over again and gets the same unsatisfying result and hopes that maybe giving it another shot may ends up in a better result.
    On another hand, there is this meaning that, the person who uses this mind set, tries to see something good in any of system's outputs.
    I personally believe that in the first approach if we have other sources and we keen to use that one malfunctioning source, it is a complete waste of time because we can reach the same result less costly.
    But regarding the second approach, I truly believe that there is something good and fruitful in any phenomenon and we should wash our eyes and look again to find it out.

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