1:1 are for building relationships and talking about long-term goals, in work or otherwise. It's also a good time to discuss big picture goals, seeing where the work you're doing fits into the grand scheme of things (at least within the company)

This goes both ways: if you're the direct report, it's best to build rapport with the manager so you can work more smoothly and especially to get that raise or promotion later on.

I guess sometimes its hard to build the relationship for some people, but often it does take time.