Work? No, in the article he was talking about an all-hands meeting. Those meetings are content-less, can be replaced by an email and serve only to stroke the ego of the presenter. "Look at how many people I can command as an audience".
How much actual information needs to go to all employees in a synchronous fashion? If you're broadcasting information, then it doesn't need to happen synchronously.
The real information revealed here is how poorly these CEOs conceive of how work is happening in their companies. They aren't tracking the performance of their employees in a sane fashion. This is a massive red flag for Facebook and Google.
Are there people there that shouldn't be? I can think of at least one name that should leave to improve the business.