Looks like they are trying to use this metric to justify cutting meeting / reports.

I think this is just wrong. The number of download does not reflect how important or impactful a report is.

It doesn't seem like a bad metric, though. There will be some "fluff" reports that are widely read but don't say much, but I doubt the inverse is true: reports 2 people read but are extremely impactful. I'd say that's really bad if it happens.