I have worked in at least one organization where the meetings were likely there to prevent work from being done too quickly with an activity that still counted as billable hours. Just before I left, the "daily stand-up" included the entire development team and testing team, and lasted a minimum of 45 minutes. That was nearly 20 people, packed into one office, justifying their existence on a daily basis.

So some people would actually dedicate that 15 hours to getting things done, and some people would still fill it up with bullshit and game the management metrics to maximize pay per unit of effort.