@Stormblessed kind of, yeah. They'll collect bug reports and feature requests from a dedicated group of users, based on their answers. At least that's what I understand from this.
(one thing is for sure, we won't be able to report bugs on meta sites very soon, that's the first step)
@ShadowThePrincessWizard The working group of users is just to give SO Inc some direct personal feedback about how things are going on the network. They are just replacing one function of the meta sites; the working group aren't replacing all of meta. Most of the other functions of meta, like bug reports, will be moved to new channels.
It's probably worthwhile reading The Loop blog post again. It covers a lot of ground, admittedly it doesn't go into great detail. stackoverflow.blog/2019/11/25/…
From the blog: We plan to transition things like bug reports, user and customer support, user feedback, and company announcements off of Meta over the course of next year. [...] In Q1 2020, we’re going to start the transition process. We are following a product development and release process for each function that we transition.
@JourneymanGeek They'll probably be too busy building all that new stuff to consider feature requests, at least for most of the next year... Presumably, they will be listening to feedback & bug reports about that new stuff though. Like they just did regarding the new post closure stuff.