This option is replaced with built-in video calls, they can be enabled in experimental settings:
The main difference is that you don’t need to trust an instance like meet.systemli.org, new calls are end-to-end encrypted. The downside is that there are no group calls, but as you noted you can open a call on such Jitsi Meet instance and send a link manually in this case. Old feature was basically a placeholder for natively integrated calls, it is now removed to avoid confusion due to having multiple ways to make calls, describing the difference between the two features etc.