I agree its not perfect, but it would still be a significant improvement on the current front page, which is almost always very brief comments about meet ups and tells you nothing about the content of the site or the community.
The ideal would be a post that combined some of the content from it, the 'welcome to less wrong' page and had a good list of introductory articles.
I've been browsing LessWrong less often as of late, and I believe that one of the reasons is because I don't want to get all excited all over a new insightful LW post, only to discover that it's a meetup in a city that I'm not even in.
And for newbies to the site in particular, they're not going to see all the awesomeness of this site if they simply look at the frontpage and think it's a community just for meetups.
I'm sure meetup discussions can go somewhere prominent. Maybe a separate section can be devoted to them.