FWIW I don't think a space for women to network is bad - exchange tips on professional development, job progression etc. Recognising that tech has loads of job roles - 'women in security engineering' for example would have the relevant people and those who, like us are turned off because it attracts the useless promotion types might actually attend.
But it seems politically incorrect to divide up by job roles... and by extension go on to acknowledge that each has different challenges. Everyone's so keen to jump on the women in tech bandwagon that quite a lot of the 'women in Tech' people for example work in roles like general HR! Just for a tech company. That's like saying a hospital HR admin is a 'woman in medicine'.
The need for big flashy events is another thing when @spookehtooth talked about are these events necessary? I notice a lot of men form contacts through work, like they engage with people on their GitHub repos, people contribute to papers on best practice for example. There are low cost ways to connect and share ideas.
The trouble is there's no money in that. A ticket at GHC costs several hundred pounds (bet the men were disappointed actually at paying that much only to get nothing out of it) And sponsors/exhibitors are charged thousands of dollars for a booth!
https://www.reddit.com/r/girlsgonewired/comments/h0ff03/gracehopperis_charging_599_for_their_virtual/
This post sums it up quite well but that sub usually goes wild for the conference every year I suspect very few of them are actual seasoned women in tech. Reddit in general though does have generic subs being flooded by early careers people who oversell themselves and their experience.