Using classic Outlook for Windows in business environments
It's gone because of the headaches it creates (exceptions). Anyone who has supported Exchange / Outlook for any length of time will tell you that copypasted or drag n dropped meetings can become corrupt very quickly, and it becomes a support nightmare.
Instead of blaming Microsoft for removing what was a terrible feature to begin with, why not just create a new meeting ?
I guess you don't schedule meetings for other people - otherwise you would know that copying and pasting meetings is something that saves a LOT of time - esp if you just need to place a hold (or 20) on your boss's calendar while waiting for others to get back to you with their availability. To have to individually create those meetings - takes time because it's not as easy as HOLD - you need to type in more info for what meeting you are holding that time for.