The meeting that should have been a metric
If the weekly update never changes a decision, it is not a meeting, it is a ritual.
Pick your most regular recurring meeting. Think back over the last six of them and ask what decision came out of each.
If the honest answer is that information was shared and nothing changed, that information could have been a dashboard, a message or a one page note.
Rituals are not worthless. Some meetings exist to keep a team connected, and that is legitimate. The problem is calling it a status meeting when it is actually a social one, because then it gets defended on the wrong grounds.
Be honest about which it is. Then make the social one shorter and more enjoyable, and replace the status one with a document.
Most marketing teams of one to three people can delete two hours a week this way, without anybody noticing anything is gone.
Shared information is not a decision.