It's also detrimental to morale when you realize that other people are zoned out through standup. Nothing much more frustrating than when a coworker asks a question that was answered in the "meeting" we were all just in.

Frankly, it's a huge opportunity for the listeners to shine. (Yay for being a listener)

Exactly. It's a waste of time. Best to give a direct message or face-to-face telling the person what they need to know. Or not say anything if nothing is needed. At most, I'd say weekly meetings that were a mix of tracking project status and fun just for team-building purposes. Keeping people connected.