So probably a perk they decided was worth it or necessary for morale at some point
Dayum, I could make a weeks worth of meals with the daily allowance of each of these.
I always thought that stuff (along with the snacks) was a ploy to keep employees working longer hours. Needing to get food/coffee/whatever is a transition that can allow people to decide to disengage from work. A strategically placed coffee station can prevent a longer trip to the cafeteria or a coffee shop, and free food in the cafeteria can prevent a trip offsite to a restaurant or the worker's home for a meal. Plus it can seem like a plus to the employee, because people often pay a lot more attention to money than time.
I don't think it's that simple. Sure, on some level it's a win for you (free food) and a win for them (more time spent working), but on another level you might be winning more if the perk wasn't influencing your decision-making to take the employer-preferred path.
I think it's a little more clear when thinking about employer provided dinner, like Facebook apparently provides.
They buy some startup, bring them all under Meta's HR umbrella with all the rules and perks that comes with. Since these recently acquired guys are running out of random offices in random places they just give them a stipend rather than force them to all relocate to a campus with dining.
The $400k employee was probably a higher up (or key SME Meta felt they needed to put in golden handcuffs) at one of these acquired companies and was probably already on his or her way out.
At some point it will disappear and go to a hard RTO, but for now it kind of works.
I've seen others ask how is buying toothpaste and wine is possible on a voucher, Doordash definitely does this "add groceries in the next 15 minutes!" thing once you've ordered lunch.