It serves several purposes, but many apps require it for access to Google API's that they're not necessarily given, but are allowed to access. Disabling it, stopping it, etc will obviously have a detrimental effect on Google's apps, but will also likely break many, if not most, of your other apps (from the Play Store). I think it'll also restore itself eventually, because it's more or less a core process.
If it's causing problems, such as wake-locks, sometimes we recommend a force stop to isolate processes run rampant as it recycles on, but I don't think you're going to meet anyone that recommends disabling core functionality to improve "performance", as that's one of the things needed for the device to do much of anything at all. A phone without these services is basically a touch screen dumb phone, and while there are some things you can do without this (people do create ROMs with no Google apps, services, etc at all), it can be fairly crippling to the overall experience.
This tablet will run for a week or two easily when off of WiFi and sleeping, and Google Play services running in the background with WiFi off is usually syncing info between apps that share services and it'll still notify you about appointments, reminders, etc that it's already aware.