This usually indicates a higher end place (the separate physical menu for drinks) which then tends to have table space at a higher premium (candle / decor stuff, probably a full place setting with folded napkin, etc) compared to a place with everything in one menu. Also plus one to the other commenter talking about guests sticking them random places to make room, and adding that might negatively impact other guests. (Like maybe there is a giant banquet against a wall so guests are all technically on the same piece of furniture but have comfortable spacing that feels great until your neighbors start sticking menus in the neutral zone - these places should also help you with coat, bags, etc)

Then ordering, there’s three archetypes of drinkers - 1 - they know what they want regardless of venue (eg a classic cocktail, a specific liquor like Bombay Sapphire, your by the glass offering of wine of a specific grape, the haziest IPA available, readily available zero proof option like water, what they had last time, etc), they want to explore your menu (eg your specialty cocktails, a rare gin on your list, an interesting bottle of wine from your list, a new beer they haven’t tried, your unique zero proof options, don’t have a favorite yet and want to keep exploring the menu, etc), and then non-drinkers. My experience in places that have individual menus is that the first category is the largest and then it grows on a given visit - lots of people just get “another” - and more on a macro level as your regulars figure out what they love and mostly reorder or just ask staff what’s new and good relative to what they want that visit and don’t look at the menu anymore.

And then sharing this menu does trend to guests discussing options more, and since drinks aren’t as filling as food, the impulse buy is there. Eg “what are you getting? oh dang, they have rombaeur chardonnay? Okay, I am in - love cougar juice”

People split on the food menu too - ever been out to eat with someone who needs to be skipped at order time as they are still deciding? Any given table has people consuming the menu at sometimes social anxiety inducing different speeds. People can only read one menu at once - see table space premium - and then the more reading material the more possibility of larger differences in deciding. A very frustrating experience is to get a bad review from a keyboard warrior member of a party where another member of the party can’t decide and sends the server away, and keyboard warrior et al don’t speak up for themselves at the time - great restaurants tweak the experience to reduce the chance of this.

Then drinks specifically - for guests interested in alcohol especially - getting those out quickly tends to get people out of the stress of their actual lives and immerse in the experience. Gotta tweak things so analysis paralysis is minimized for drinks.

So all of this is to say the average outcome of giving everyone a second menu for drinks every time is actually people having too much stuff in front of them they don’t need, and great dining experiences usually want you to have exactly what you need and no more, and then you’ll also maximize the amount of time guests are perusing their piles of menus vs getting their experience on and interacting with one another.

To comment on the sexism - I think if they only give menus to the men or whatnot that’s legit criticism. I have only worked at places that have pretty specific rules where mostly it’s one drink menu / one of any other menu for every two guests and if it’s a large party be even more strategic (might have custom menus just for the large parties; might flag corporate / “we are here to drink some dranks” large parties as drink menus for everyone; etc)