I can't say I've ever received an event invitation via iCalendar. Getting an .ics download for an event to put it on my calendar, sure, but that's not an invite, it's just a read-only event.
Yeah I think this is targeting Facebook Events (which they seem like they've been trying to kill off anyway) and Partiful more than calendar meetings/appointments.
If this sticks, it won't only screw you or me over as Android users with Apple users in our friends groups. This will quickly bubble up from friend gatherings to community groups and local services businesses. At some point, you'll find that your kids' kindergarten or your stylist or even your doctor starts sending you Apple Invites instead of e-mail invites (.ics), because the Apple variant also comes with a shared photo album. It's actually surprising when you notice just how many appointments could use a shared photo and/or document collection directly linked to them - that part is actually a good idea from Apple. It's just sad that they're weaponizing it instead of improving what already works for everyone.
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[0] - https://icalendar.org/RFC-Specifications/all/