Of all the types of meetings that could be emails, stand-ups are at the very bottom of the list. A well run, efficient stand-up can head off a day's worth of productivity sucking emails and Slack messages with a 10 min conversation.
Standups are also (rarely) recorded, and therefore unsearchable.
Have you ever thought - maybe an email process can also be done well?
Maybe the majority of your email threads are terrible. That doesn't mean they have to be. Maybe you think all of your meetings are well run - it doesn't mean everyone else thinks they are...
And no, email processes cannot be well done. You may think your's are, but that doesn't mean everyone else does.
If I had my druthers I would ban email for all in-house communication and do everything verbally, via chat apps, or workflow management tools. Anything that needs more thorough elaboration should be written down as a thoughtfully articulated memo. If you feel the need to record the contents of a 20 minute group conversation to search it later that probably means you need to focus and take better notes.
I will say it is truly a wild claim to assert that an intramural basketball game is more conducive to team productivity than a stand-up meeting though.
In my experience, the very people who think these cross-team sync meetings are a waste that they don't need to be a part of are the first to make noise that they weren't consulted or included in a discussion that actually doesn't impact them.
I like in person updates myself, but it's not as obvious of a cost calc as you present. There is definitely a place for async, written updates
I find bad managers usually can't grasp the cost of interruptions from meetings - because their work isn't interrupted from meeting - because their work IS meetings.