Reporting hierarchy is there for a good reason. If you report to multiple people, you're the one that's going to have a bad time when they're not aligned with each other, each trying to give you a different list of priorities.
In a larger organization, "knowing what's important and what's not" at all times can be practically a full time job in and of itself. A lot of engineering teams like to protect individual developers from meetings and conference calls so they can focus on development, but that necessarily means developers will be missing context.
I think it's because it implies that their job is to report to you -like you're really the brains of the operation rather than just in a different role