Hi Jordan,
It does not send appointments (meeting invites) to the people on the marketing list. It only creates the appointments and associates them with the contact. I have never found a real need for this other than some people promptly close the appointment using workflow such that an appointment is created in history, perhaps indicating you met with them at an event. I usually use Campaign Responses for such things. Or perhaps you want to create all the appointments with no date and then just have th users follow-up and set the appointments.
If you want it to send meeting requests, we have typically created a plugin to do this using a standard meeting request format.