Online meetings can be effective for many tasks, but there is no single answer that applies to every conversation. A short factual update and a difficult negotiation have different needs. Judge effectiveness by the outcome rather than the distance between participants.
Where can online meetings work well?
Updates, document reviews and focused decisions can suit remote attendance when everyone has the necessary context. An agenda and readable material help the group use its time. Avoided travel may make a short appointment more practical.
Where can physical presence help?
Hands-on work, detailed physical inspection and some relationship-building occasions benefit from being together. In-person contact can offer richer social cues and informal conversation. It still needs a clear purpose: travelling to an unfocused meeting does not make it productive.
What about a virtual room?
A VR meeting offers another setting for remote discussion. Avatars and shared screens may suit some groups, while headset access or comfort may make another format preferable. Do not treat immersion as a guaranteed improvement in results.
Compare the same task
Try similar discussions in appropriate formats and ask whether the required decision was reached, understood and acted upon. Include participation, preparation, time and cost. The best choice may differ from one meeting to the next.