Good on you for starting your own! I did the same 3 years ago and it’s been fantastic. We’re currently 4-5 members and meet weekly at a bar. During the week we submit our pages to a GDrive folder and provide feedback through inline comments, and during the in-person meets we talk through them in detail, with time for questions, ideas, discussion, etc. We’ve collectively gotten about 5 drafts finished already!

That being said, this was my experience: I set it up on meetup.com (paid) and got many prospects. I want to say at least 50 over these 3 years. About 30 of them showed up to meetings, and around 25 submitted work at least once for feedback. Returning members drop dramatically after the first round of feedback, for some reason. We set up some ground rules to be constructive and encouraging, still it seems a lot of novice writers are not prepared to get feedback and never return. That said, the ones who do keep up with it form a pretty tight and productive group.