That seems incredibly counterproductive to me. If its more for face-time and getting-to-know people fine, but if its supposed to be an actual _thing_ with actual impact then I'm skeptical.

My previous company (during Covid) had 3 all-hands each week (~300 people). It was a little over the top

we have one at my company, and it feels like a bit much. A lot of repeated talking points/useless info because we have an hour to fill every week