Not just megacorps, I've seen long unproductive meetings in startups which means a larger percent of the workforce out of action for the duration. Often I find managers who insist on these types of meetings, frequently, are the same ones that don't really seem to be providing much value generally outside of meetings.
Unless it's some sort of C level meeting with tje board on quarterly basis, I seen no reason why any internal meeting should be more than half an hour long.
My brief time at $megacorp taught me to recognize when a meeting turns into unproductive bullshitting, at which point I just walk away and go back to work. YMMV.
> That boon was thanks in part, Microsoft said, to meetings capped at 30 minutes and an increase in remote conferences.
From my past experiences in megacorps, there are so many meetings it sometimes feels like that's all you're doing.