They work well for some
I am involved with an international committee that used to meet face-to-face every couple of months, but that all changed during the pandemic.
We now meet for a couple of hours every week, and hold "full day" sessions as needed - where a full day consists of a number of 90 minute sessions with 30-45 minute breaks between them.
These are targeted meetings where progress is made, and we have found this to be a lot more efficient and productive than face-to-face:
1) It is a lot easier for international membership as travel is not required (time / cost) - though too wide a range of timezones can be a bit of a challenge.
2) Turnout is higher as it is easier to find the time to join individual sessions than to find the time to travel.
3) Keeping the session lengths reasonable stops people getting fatigued, and means they can attend to other matters during the day.
We do still hold face-to-face meetings every now and then, as it is nice to be able to meet up in the bar for some less formal conversation ;-)