You're totally correct. I run our Scrum stand-up and I set the timer for 15 minutes- at 15 minutes I used to literally shut down the conference bridge and we're done. I did this to get us in the habit that we needed our morning stand up to be formal, precise, and expedient. We needed to get in the habit of quickly realizing that something needed to be shelved and that the necessary people would follow up with each other later to get into the weeds. I don't hang up any more, and sometimes we go a tad over 15 minutes, but we've gotten our standup to become a well oiled, no bullshit machine.

I feel like this is the complete opposite of a one on one. They should be a meandering, personal, meaningful conversation of depth. They should feel unrushed and the employee should feel that they are listened to.

It could be a sign that your company feels that way about employees that a Scrum standup is a replacement for one on ones, ie: they don't give a shit. More realistically, they probably just don't get that there's no room for the meaningful relationship building that a one on one meeting confers from a time boxed group standup.