It's worse when combined with the "we say estimates aren't timeframes but secretly they are" problem: give a 3 day estimate for something, and when it's not finished in 3 calendar days (because only around 1/4 of that time was actually usable for work, the rest was pointless meetings or 20 minute gaps where nothing useful can be done), more meetings are scheduled to discuss why the estimates are "wrong".
I don't think it's a matter of trust. Management sees their job as setting priorities and resource allocation. So they shoehorn that into everything they touch. They require estimates, so they can divide impact by effort and then assign the highest ratios first, without regard to necessity or dependencies or technical debt.