Surprised to see that what appears to be the "feature launch committee" has about 30 people in the room... and another 15 or so patched in by video. (Perhaps most are just 'flies on the wall' to learn?)
It's a sign of bureaucracy, not trusting important decisions to individual contributors, and an ass-covering vehicle to remove blame when mistakes are made.
Some of it reflects a needed amount of "care" - but it can easily lead to bad organizational dynamics.