Sure, but the overall intent holds true. Not just in professional settings, it's important to have the skill to reframe a negative comment into a positive one.

This is probably what I would say:

It sounds like you've got everything you need for the meeting. Would it still make sense for me to attend?

If that's the case, then I think I'd be more useful handling some other tasks in the meantime. Please keep me updated on the outcome of the meeting