If you want to have a standing meeting, that's fine, and it can be good-- but I think the rule should be no meetings can ever be mandatory, and anyone can leave any meeting at anytime. If the person calling the meeting doesn't have an agenda compelling enough to get people to show up, then the meeting shouldn't happen anyway.
I will no longer stand (literally) for mandatory meetings. (Which is, just another of the daily things I am thankful for about being my own boss.)