This is true, but generally speaking there should be more people "producing" than "ingesting." This is often not the case. Most meetings are useless, and this has become much worse in modern times. Example: agile "scrum" and its daily stand ups, which inevitably turn into status reports.

At some point in the 2000's, every manager decided they needed weekly 1:1's, resulting in even more meetings. Many of these are entirely ineffective. As one boss told me, "I've been told I need to have 1:1's, so I'm having them!" I literally sat next to him and talked every day, but it was a good time to go for coffee...