The Angular meetup in May 2023 focused on the major updates introduced in Angular 16, emphasizing features like standalone components, the new signal reactivity system, and improvements in tooling and testing. Notably, signals enable developers to manage application state more efficiently, while also reducing reliance on change detection strategies that have historically led to performance issues. The event also highlighted the shift from RxJS to signals for state management, aiming to simplify and optimize application development.