Would there be a difference in meaning if it was just "do you guys have time?" without "the".

Native speaker’s answer
Rebecca
Good question! Yes, they mean two different things. In this video, "the time" is used to mean the actual time, i.e. 2 PM, 1 AM, and so on. "Time" without "the" refers to the state of being free to do something. Thus, the speaker in this video is just asking for the time of day, and not if SpongeBob and Patrick are free to do something. Ex: I don't have time to do anything outside of work right now. Ex: Do you have time to go shopping with me this weekend? Ex: A: Do you have the time? B: Yes, it's 1:30 PM.