That sounds nice, but doesn't work in practice. When it only takes one person to call a meeting, the larger your company gets, the more likely it is that somebody will think a meeting is useful. This is made worse by the way larger companies tend to rely more on power structures, so it's considered bad for a low-status person to say no to a high-status person.

There are certain people in companies who if they aren't in meetings all the time, would probably have very little to actually do.

I think for those people meetings are saving their job.