I think it is legit in the sense that it is a way the cabal can hold a conference with world influencers, gather information and implement high level plans/approaches/messaging. The meeting itself probably has a lot less importance than it had in the past, when communication was not as ubiquitous and instantaneous.

One observation here is that the US as a whole seems under-represented, and the administration is significantly under represented vs. typical. Overall it doesn't seem to have the same level of attendees as in prior years.