Re: This is theatre
Key distribution is an Achilles heel of security.
My expectation is that much depends on how the key is distributed: If the Zoom client includes it in the invite email sent from your email client and thus doesn't actually pass through the Zoom server hub then it is as secure as most commonly used security mechanisms.
Be interested to know how tools such as Teamviewer manage this aspect of security (ie. avoiding the possibility of being able to eavesdrop on remote desktop connections) in their product.