In fairness to PGP, Signal uses exactly the same method as PGP does for verifying identities. You need to check a ridiculously long number which represents your correspondent's identity. It's a 40 digit hex "key fingerprint" in the case of PGP and a 60 digit decimal "safety number" in the case of Signal. The difference is that Signal will cheerfully let the user have an insecure conversation before the user has verified the safety number. PGP makes it very difficult to fail in that particular way.
Signal has a separate safety number for each of your devices. So it makes it significantly harder to keep up with the user verification than with PGP which has a single key fingerprint per user.
So you could totally have a Signal identity party for exactly the same reasons as in the PGP case...