The fact that they show end users (no pun intended) an "end-to-end encrypted" badge on the meeting window itself, and elsewhere explain how a Zoom server (not Zoom client) is what constitutes an "end" despite the whole rest of the electronic communication industry using "end-to-end" to refer exclusively to user agents, is bonkers.
Apple does the same thing, where they claim iMessage is ETE encrypted, but the keys (so capabilities to read) are stored on their servers.
iMessage doesn't store your decryption keys on Apple's servers unless you opt into iCloud backup which is a whole different service and security concern.