The exact opposite! I would consider this either a design flaw or a bug. The choice of returning {-\[Infinity], \[Infinity]} is not in line with other definitions.
O btw, I found out because I generate many lists (with different lengths) and I want to track the Min and Max without storing all the data. So I update my Min and Max bounds every time a new list is generated. However some lists have zero length, and then my bounds are a mess. So I have to go back to my own Min/Max:
@Stefan Ragnarsson I stand corrected for my last example should not work (i removed it from my post), even when the MinMax[{}] is fixed, as it flattens the list: