It is doing, but it's doing one thing: reading. Encouraging kids to read makes sense for building literacy and encouraging imagination, but there's a point where enough is enough, reading the 6th installment of Harry Potter is for entertainment, and they're better off riding a bike, building something, and making friends.
It's the same for adults. We blindly praise reading, but much of it belongs on the shelf at an airport bookstore, it's not particularly challenging or informing, and it might as well be video games or TV.
Doing what? Just whatever? As long as they aren't doing any reading?
They should also replace lunch period with a "life" period. I see a lot of kids sitting around eating, getting fat, but kids need experience in real life; eating will get them nowhere.
Reading is doing when it involves active engagement - kids who read deeply are processing, imagining, questioning, and building mental models they later apply to real-world problems.