Have you tested the loading speed of your pages? A non-cached thread vs the same thread once it has been cached? Is it considerably faster?
This just seems like a waste of server resources, insomuch as you've already said the site isn't heavily visited, so who is going to benefit from these 500 threads being churned into cache all the time?
It might be more useful to look at ways of improving overall load time for the site as a whole. What are your server specs and how many threads, messages and members do you have? Have you done any testing?